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Bankers Discuss Brokered Deposits, National Rate Cap with FDIC Officials

Tuesday, October 30, 2018   (0 Comments)
Posted by: Amanda Averch
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A delegation of six community bankers met with FDIC staff yesterday to discuss the need for the FDIC to modernize its approach to brokered deposits. Specifically, the delegation called regulators’ attention to the national rate cap and its application to well capitalized community banks through the examination process.

Echoing a comment letter submitted by ABA on Friday, the bankers urged the FDIC to use an alternative methodology to determine the national rate cap, noting that in a rising rate environment, the current rate cap does not accurately reflect the cost of deposits. Read ABA's comment letter

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