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Financial Institution Letter |
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Updated Webpage For Revised Interest Rate Restrictions Applicable to Less Than Well Capitalized Institutions
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Summary:
On April 1, 2021, the FDIC’s revised methodology for calculating the national rate, the national rate cap, and the local market rate cap for banks that are less than well capitalized under Section 337.7 of the FDIC’s Rules and Regulations (see FIL-113-2020) go into effect. As of 8:00 AM ET on April 1, 2021, the FDIC’s webpage for the National Rates and National Rate Caps will reflect the change in calculation methodology; going forward, updated National Rates and Rate Caps will, in general, be posted on the third Monday of the month.
Statement of Applicability:
This Financial Institution Letter applies to all FDIC-insured institutions.
Distribution:
Chief Executive Officer Chief Operations Officer Chief Financial Officer Compliance Officer
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