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FDIC Advances Reciprocal Deposit Reform

Sept. 14, 2018 — The FDIC proposed conforming rules to advance a provision of S. 2155 exempting certain reciprocal deposits from being considered brokered deposits for some institutions. Under the ICBA-advocated exception, well-capitalized and well-rated institutions are not required to treat reciprocal deposits as brokered deposits up to the lesser of 20 percent of their total liabilities or $5 billion.

Comments will be due 30 days after publication in the Federal Register. The FDIC said a second rulemaking planned for later this year will seek comments on the agency’s overall brokered deposit regulations.

More information on S. 2155 is available in ICBA’s new matrix on the law’s regulatory implementation and its “Passage of S. 2155” webpage.




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