The FDIC requested comments on its proposed updates to a series of frequently asked questions and an accompanying introductory letter regarding identifying, accepting and reporting brokered deposits that were issued in January 2015. Comments on the proposed updates must be submitted by December 28, 2015.
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The FDIC adopted a final rule to permit FDIC-insured financial institutions "to except a capped amount of reciprocal deposits from treatment as brokered deposits for certain insured depository institutions." Separately, the FDIC requested comments on all aspects of its brokered deposit and interest rate regulations. The FDIC amended its regulations on brokered deposits and interest rate transactions to conform to changes required by Section 202 of the Economic Growth, Regulatory Relief and Consumer Protection Act concerning reciprocal deposits. The final rule will also make conforming
The Federal Reserve Board, the FDIC and the OCC cautioned that banks may face significant liquidity risks in relying on funding from entities in the crypto industry.
FDIC Chair Martin J. Gruenberg and Federal Reserve Board Governor Michelle W. Bowman considered community banking reforms and applying lessons learned from recent bank failures.