What Changed? Understanding the FDIC’s Revisions to the Brokered Deposits Restrictions

The US Federal Deposit Insurance Corporation (“FDIC”) recently finalized significant revisions to the FDIC’s framework for regulating brokered deposits. These revisions alter both the substantive regulations for brokered deposits and the procedures for requesting exceptions and filing reports, modify the restrictions on interest rates for certain types of deposits and clarify the application of the brokered deposit requirements to non-maturity deposits. On this call, Anna Pinedo, Jeff Taft and Matt Bisanz from Mayer Brown will discuss how the revisions affect banks and deposit brokers and what the industry needs to know in advance of the January 1, 2022, compliance date.  

Mayer Brown’s Global Financial Markets Initiative helps clients deal with the legal and business challenges resulting from the ongoing turbulence in worldwide financial markets. By mobilizing the firm’s global resources from multiple practices and offices, the initiative provides clients with knowledgeable and timely counsel on a broad spectrum of their legal needs.