United States:
Federal Register: FDIC Requests Comment On Exceptions From Brokered Deposit Rules
02 October 2018
Cadwalader, Wickersham & Taft LLP
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The FDIC-proposed rule that would allow certain insured
depository institutions to be exempt from the requirement to treat
reciprocal deposits as brokerage deposits was published in the Federal Register. Comments on
the proposed rule must be received by October 26, 2018.
As
previously covered, pursuant to Section 202 of the Economic Growth, Regulatory Relief, and Consumer
Protection Act, the FDIC is required to amend its regulations
to allow certain institutions to except reciprocal deposits from
being treated as brokerage deposits under certain conditions.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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