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.
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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.
