Q: How can an insured depository institution obtain a waiver from the FDIC to accept brokered deposits?
A: The application procedures are set forth in the FDIC’s regulations at 12 C.F.R. § 303.243. The FDIC may grant a waiver upon a finding that the acceptance of brokered deposits by the insured depository institution will not constitute an unsafe or unsound practice with respect to the institution. It is important to note that a waiver will not exempt a less than well capitalized institution from complying with the interest rate restrictions set forth in the FDIC’s regulations at 12 C.F.R. § 337.6.