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ADVOCACY UPDATE




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ICBA Urges New Approach to Brokered Deposits

5/13/2019

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ICBA called on the FDIC to revise how it treats brokered deposits and related interest rate restrictions. In a comment letter on the agency’s comprehensive review of this area, ICBA said brokered deposits can be a stable source of funding and a cost-effective way for community banks to meet their funding needs. However, there is an undeserved stigma surrounding brokered deposits that needs to be dispelled, it said.
 
ICBA said the FDIC has too expansively interpreted the definition of “deposit broker” and too narrowly implemented statutory exceptions. This hinders community banks as they partner with third parties, such as federal or state agencies that use debit or prepaid cards to deliver funds to government program beneficiaries.
 
Further, the FDIC’s national rate restrictions on less-than-well-capitalized banks are out of step with the market, ICBA said. It called on the FDIC to raise and reform rate restrictions to ensure the current, faulty methodology doesn’t lead to a liquidity crisis of its own making or unnecessarily loop in well-capitalized institutions.

Read ICBA Comment Letter
Read FDIC Request for Feedback
Read More in Recent ICBA Op-Ed

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    Authors
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    Lori Godfrey
    EVP, Chief of Staff, Government & Regulatory Relations

    Tyler Eck
    Government and Regulatory Relations Associate


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  • Home
  • About CBA
    • Member Login
    • Board of Directors
    • Membership Overview
    • CBA Committees
    • Our Team
    • Remembering Julian Hester
    • Directions to Our Office
  • Contact
  • Membership
    • Member Directory >
      • Bank Listing Update
    • Preferred Service Providers
    • Associate Member Directory >
      • Company Listing Update
    • Associate Member Benefits & Application
    • Member Benefits
    • CBA Wellness Solutions >
      • Peachy Posts
  • Professional Development
    • CBA University >
      • Calendar
      • Webinar Series
      • Archived Webinars
      • Barret School of Banking
      • 2021 Compliance Professionals Package
      • HR & Talent Development League
      • The Community Bank Leadership Academy
      • Compliance Resources
      • Cancellation Policies & Facility Maps
      • Speakers
      • Programs by Functional Category
      • Venue Availability
      • Southeastern Community Bankers Association
    • Conventions/Events >
      • 53rd Annual Convention & Mini-Trade Show
      • Banker Regulatory Forum >
        • Banker Regulatory Forum Questions
      • Small Business Day at the Dome
      • PAC/PR Fundraising Events >
        • PAC/PR Clay Shoot
      • Call for Presentations
  • COMMUNICATIONS
    • Communications Overview
    • Advertising Opportunities
    • Sponsorship Opportunities
    • Monthly Marketing Toolkit >
      • November- Value of the Community Bank
    • Georgia Communities First Magazine
    • Julian & Jan Hester Scholarship
    • Walraven Scholarship
    • eNewsletter - CBA Today
    • Lifetime Service Awards
  • Advocacy
    • Advocacy Update
    • Priority Legislation SB 157 >
      • SB 157 Survey
    • Locate Your Legislator
    • CBA's PAC/PR Fund >
      • Corporate Donations
      • Individual Donations
    • ICBA Plan for Prosperity
  • Resources
    • THE CARES ACT & SBA LENDING
    • Paycheck Protection Program
    • Disaster & Pandemic Support & Preparedness
    • CBA Legal Hotline
    • PSP & Associate Member Support During Covid-19
    • CBA Career Center
    • Rise Up - College Student Development Program
    • Georgia Financial Directory
    • ICBA
    • Salary Survey
    • Financial Literacy
    • Useful Websites
    • FDIC Regulatory Calendar
    • CBA Privacy Policy