Last week, BPI submitted to the FDIC a comment letter in response to the agency’s notice of proposed rulemaking on brokered deposits. In its letter, BPI recommended revisions to the definition of “deposit broker” to make it more effective over the long term; the exception for agents or nominees whose primary purpose is not the placement of deposits; and the exception for insured depository institutions. The letter also requested several clarifications to the brokered deposit framework.
You Might Also Be Interested In...
Bank Activities and Structure BPI and Coalition of Trades Support the Close the Shadow Banking Loophole Act
Bank Activities and Structure Our Assessment of the Federal Reserve’s Latest Semiannual Supervision and Regulation Report and Some Recommendations for Future Reports
Bank Activities and Structure BPI Welcomes FDIC Action to Provide Certainty for Banks’ Second-Chance Hiring
More Posts by This Author
Basel Finalization The Empire Strikes Back: How the Basel Proposal Would Shift Credit Allocation from the Private Sector to the Government
Consumer Affairs Banks Support National Strategy to Identify Opportunities and Barriers to Financial Inclusion
Bank Liquidity BPI Statement for the Record for House Hearing on the Fed Discount Window and Emergency Lending