FDIC Seeks Comment on the Treatment of Reciprocal Deposits

Press release

The FDIC is seeking comment on a proposed rule to implement an amendment to the Federal Deposit Insurance Act (FDIA) that would exempt certain reciprocal deposits from being considered brokered deposits.  The amendment to the FDIA was one of the provisions of S.2155.

Comments on the proposed rule are due on or before October 26, 2018

For additional information, please see WBA’s Regulatory Compliance Bulletin discussing the proposed rules, and containing instructions on how to submit comments. Click here to view the bulletin.