Frequently Asked Questions on Identifying, Accepting and Reporting Brokered Deposits

FDIC Subscriptions sent this bulletin at 06/30/2016 10:25 AM EDT

Financial Institution Letter

Frequently Asked Questions on Identifying, Accepting and Reporting Brokered Deposits FIL-42-2016
6/30/2016

Summary:

The FDIC is finalizing updates to its Frequently Asked Questions (FAQs) regarding identifying, accepting and reporting brokered deposits. In November 2015, the FDIC released for comment proposed updates to the FAQs that were originally issued in January 2015. After consideration of the comments received, the FDIC retained a majority of the proposed updates, with certain clarifications and new FAQs. This Financial Institution Letter supersedes FIL-2-2015 and FIL-51-2015.

Statement of Applicability to Institutions with Total Assets Under $1 Billion: This Financial Institution Letter applies to all FDIC-insured financial institutions that use brokered deposits.

Suggested Distribution:
FDIC-Insured Depository Institutions

Complete Financial Institution Letter: http://www.fdic.gov/news/news/financial/2016/fil16042.html

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