The FDIC has issued a final rule that establishes a new framework for analyzing whether deposits made through deposit arrangements qualify as “brokered deposits” and amends the methodology for calculating the interest rate restrictions that apply to less than well capitalized insured depository institutions (IDIs). The final rule, which includes material differences from the FDIC’s proposal, becomes effective April 1, 2021, with full compliance extended until January 1, 2022. Under the final rule, fewer deposit relationships will be deemed brokered deposits. Brokered Deposits. Section 29 of the Federal Deposit Insurance Act and FDIC regulations restrict the acceptance of deposits by IDIs that are less than well capitalized from a “deposit broker.” While well capitalized IDIs are not restricted from accepting deposits from a “deposit broker,” an adequately capitalized IDI can accept deposits from a “deposit broker” only if it receives a waiver from the FDIC and an undercapitalized IDI may not accept such deposits.