Regulatory Alerts2024-10-08 | FIL-72-2024Unsafe and Unsound Banking Practices: Brokered Deposits Restrictions; Extension of Comment Period
The Federal Deposit Insurance Corporation extends the public comment period for its proposed brokered deposit restrictions rulemaking by thirty days, shifting the submission deadline from October 22 to November 21, 2024. This extension provides FDIC-insured financial institutions and stakeholders additional time to submit feedback on proposed amendments that strengthen prudential safety and soundness protections under Section 29 of the Federal Deposit Insurance Act. The updated requirements apply to all FDIC-insured institutions and modify existing regulations codified at 12 CFR 337.6 and 303.243.
Laws and Regulations
October 8, 2024
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Summary: The FIL announces a 30-day extension of the comment period for the Notice of Proposed Rulemaking Unsafe and Unsound Banking Practices; Brokered Deposit Restrictions (NPR), moving the deadline from October 22, 2024, to November 21, 2024. Statement of Applicability: The contents of, and material referenced in, this FIL apply to all FDIC-insured financial institutions. Highlights: The Federal Deposit Insurance Corporation (FDIC) published on August 23, 2024, an NPR seeking comments on proposed amendments that would strengthen the important prudential protections of the safety and soundness rules on brokered deposits (12 CFR 337.6 and 12 CFR 303.243) that implement Section 29 of the Federal Deposit Insurance Act (FDI Act). To provide additional opportunity for the public to prepare comments to address the matters raised by the NPR, the FDIC is extending the comment period for the brokered deposits-related NPR from October 22, 2024, to November 21, 2024.
FIL-72-2024
Attachment(s)
Unsafe and Unsound Banking Practices; Brokered Deposit Restrictions
Unsafe and Unsound Banking Practices: Brokered Deposits Restrictions; Extension of Comment Period
Related Topics
Brokered Deposits
Contact(s)
Division of Risk Management Supervision
Legal Division