ICBA is encouraging community bankers to use its guide to submit unique comment letters on the FDIC’s notice of proposed rulemaking on brokered deposit restrictions ahead of today’s deadline.
About the Proposal: Although the FDIC finalized revisions to its brokered deposits regulations in 2020, the agency now proposes to reverse significant aspects of the 2020 framework. If finalized, more deposits would be considered brokered deposits under the proposal and fewer deposits would be considered core deposits.
Potential Impact: The proposal could negatively affect community banks’ access to funding sources and impair their abilities to structure deposit placements for maximum deposit insurance coverage.
ICBA Guide: ICBA’s grassroots guide offers details on the proposal, sample responses to various issues raised by the proposal, and instructions on submitting comments.