When does an insured depository institution “accept” a deposit?

Compliance > Deposits > Brokered Deposits
Q:  When does an insured depository institution “accept” a deposit?
 
A:    A deposit is “accepted” when the insured depository institution receives the funds. Under Section 29 of the FDI Act, an insured depository institution may accept brokered deposits without restriction if the institution is well capitalized for the purposes of section 38 of the FDI Act. In contrast, if the insured depository institution is adequately capitalized, the institution cannot accept brokered deposits unless it has obtained a waiver from the FDIC. Finally, if the institution is undercapitalized, it may not accept brokered deposits under any circumstances.
 

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

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