Designated Exceptions News Today : Breaking News, Live Updates & Top Stories | Vimarsana

On April 1, 2021, the FDIC’s final rule issued in December 2020 revising its brokered deposits regulation became effective.  The full compliance date for the final rule is January 1, 2022.  The rule established a new framework for analyzing whether deposits made through deposit arrangements qualify as “brokered deposits” and amended the methodology for calculating the interest rate restrictions that apply to less than well capitalized insured depository institutions. The FDIC issued a new Financial Institution Letter ( FIL-23-2021) last week in which it announced that, to facilitate ...

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.  Se...