Reporting and Recordkeeping
Requirements for Brokered Deposits
Revision of a currently approved collection
No
Regular
09/20/2024
Requested
Previously Approved
36 Months From Approved
05/31/2027
252
192
545
377
0
0
Section 29 of the Federal Deposit
Insurance Act prohibits undercapitalized insured depository
institutions from accepting, renewing, or rolling over any brokered
deposits. Adequately capitalized institutions may do so with a
waiver from the FDIC, while well-capitalized institutions may
accept, renew, or roll over brokered deposits without
restriction.
US Code:
12
USC 1831f Name of Law: Federal Deposit Insurance Act
The FDIC is proposing to issue
a rule (the “Proposed Rule”) that would: (1) revise the “deposit
broker” definition; (2) amend the analysis of the “primary purpose”
exception to the “deposit broker” definition; (3) amend two of the
designated business relationships under the primary purpose
exception; (4) make changes to the notice and application process
for the primary purpose exception; and (5) clarify when an insured
depository institution can regain status as an “agent institution”
under the limited exception for a capped amount of reciprocal
deposits.
$0
No
No
No
No
No
No
No
Manuel Cabeza 202 898-3781
mcabeza@fdic.gov
No
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.