In regard to the exception for an “insured depository institution, with respect to funds placed with that depository institution,” does the exception apply to a company affiliated with that institution, including a parent or a subsidiary?

Compliance > Deposits > Brokered Deposits
Q:  In regard to the exception for an “insured depository institution, with respect to funds placed with that depository institution,” does the exception apply to a company affiliated with that institution, including a parent or a subsidiary?
 
A:    No. If an affiliated company places deposits or facilitates the placement of deposits at an insured depository institution, the company will be a deposit broker (assuming that the affiliated company is not the owner of the deposits and is not covered by any of the other exceptions to the definition of deposit broker). As a result, the deposits will be brokered deposits.

This can be found in FDIC’s FAQs, which can be found at https://www.fdic.gov/news/news/financial/2015/fil15002a.pdf

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