FDIC board meeting on ILC parent companies, brokered deposits

The FDIC board of directors is set to meet tomorrow to vote on a final rule to codify its capital, liquidity and source-of-strength requirements for industrial loan company parent companies.

In a July comment letter, ICBA commended the FDIC for working to strengthen its supervisory processes for ILC parent companies but said the proposal falls short of ensuring the safety and soundness of these companies.

The FDIC board is also slated to consider a final rule to modernize its brokered deposit regulations. ICBA has criticized that proposal, noting the proposed “facilitation” definition was so broad that it would restrict community banks from engaging third parties.