Our Website Uses Cookies 


We and the third parties that provide content, functionality, or business services on our website may use cookies to collect information about your browsing activities in order to provide you with more relevant content and promotional materials, on and off the website, and help us understand your interests and improve the website.


For more information, please contact us or consult our Privacy Notice.

Your binder contains too many pages, the maximum is 40.

We are unable to add this page to your binder, please try again later.

This page has been added to your binder.

The Federal Deposit Insurance Corporation's Final Brokered Deposits Rule: Six Things to Know

December 16, 2020, Covington Alert

On December 15, 2020, the Board of Directors of the Federal Deposit Insurance Corporation (“FDIC”) voted 3–1 to approve a final rule that significantly revises and clarifies the regulatory framework applicable to brokered deposits, under which less-than-well-capitalized insured depository institutions (“IDIs”) are generally prohibited from accepting funds obtained, directly or indirectly, from a deposit broker. The final rule represents the culmination of a long process, including an advance notice of proposed rulemaking (“ANPR”) issued in December 2018 and a notice of proposed rulemaking (the “proposal” or the “proposed rule”) issued in December 2019, to modernize the FDIC’s brokered deposit regulations, and adopts a number of significant changes relative to the proposal. The final rule becomes effective April 1, 2021, but the full compliance date is delayed until January 1, 2022. A comparison of the final rule text against the proposed rule text is available here.

Share this article: