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Federal Register Publications

Comments RIN 3064-AF99

Unsafe and Unsound Banking Practices: Brokered Deposits Restrictions
12 CFR Parts 303 and 337 RIN 3064–AF99
Notice of proposed rulemaking

Summary: The Federal Deposit Insurance Corporation (FDIC) is inviting comment on proposed revisions to its regulations relating to the brokered deposits restrictions that apply to less than well-capitalized insured depository institutions. The proposed rule would revise the ‘‘deposit broker’’ definition and would amend the analysis of the ‘‘primary purpose’’ exception to the ‘‘deposit broker’’ definition. The proposed rule would also amend two of the designated business relationships under the primary purpose exception and make changes to the notice and application process for the primary purpose exception. In addition, the proposed rule would clarify when an insured depository institution can regain status as an ‘‘agent institution’’ under the limited exception for a capped amount of reciprocal deposits.
 

89 FR 68244
Comment Period End: October 22, 2024

Extension of Comment Period 89 FR 82537
Extended Comment Period End: November 21, 2024

 

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Submitted By
01. American Bankers Association,  American Fintech Council
02. Samuel Haskell
03. Summit National Bank, John Miller
04. Jason Giannelli
05. Pennsylvania State Grange, Matthew Espenshade
06. Dakota County Regional Chamber of Commerce, Jon Althoff
07. PennAg Industries Association, Christian R. Herr
08. St. Paul Area Chamber, John Perlich
09. California Hispanic Chambers of Commerce, Julian Canete
10. Doug McLinko
11. Andy Wilke
12. Elise Oliver
13. The Bank of Landisburg, Patti L. Mclaughlin
14. Whitehorse Strategies, Joshua Henne
15. Fishtown Kensington Area Business Improvement District, Marc D. Collazzo
16. Fishtown District, Marc D. Collazzo, J.D.
17. Tai
18. Tendon Manufacturing Inc., Michael J. Gordon Sr.
19. The Orange County Hispanic Chamber of Commerce (OCHCC), Reuben Franco
20. The State Exchange Bank (SEB), Nancy Hohmann
21. Hospitality Minnesota, Angie Whitcomb
22. Cynthia D. Blake
23. The Dime Bank, Honesdale, PA, Peter Bochnovich
24. Build with Brick, Jillian Riddell McDonnell
25. Lamont Mackley
26. Woodloch Pines Inc., Bradley Kiesendahl
27. Spiro Harrison & Nelson LLC, Brian M. Nelson
28. Regional Hispanic Chamber of Commerce, Sandy Cajas
29. Ashley Peterson
30. Katherine Starkey
31. Reese Thompson
32. Welch State Bank, James A. Stoner
33. Kasasa, Patrick J. Laughlin
34. Welch State Bank, Mathew J. Boston
35. International Bancshares Corporation (IBC), Dennis E. Nixon
36. Neighborhood Development Center, Renay Dossman
37. Paxos, Charles Cascarilla
38. First Financial Northwest Bank, Joseph W. Kiley
39. Bank of Star Valley, Rod Jensen
40. American Deposit Management, LLC
41. The Bank of Tescott, Larry Fief
42. Wayne County Bank, Randy G. Butler
43. Illini State Bank, Alan Stremlau
44. Small Business Development Corporation of Orange County, Michael A. Ocasio
45. Valley Industry and Commerce Association, Stuart Waldman
46. Harmony Bank, William E. Lowe
47. Penn-Northwest Development Corporation, Rod Wilt
48. Farmers & Merchants Bank, Shon B. Meyer
49. Pioneer Bank, David Krause
50. Denali State Bank, Steven Lundgren
51. Corbin Holdings LLC, Paul Corbin
52. Ampersand Inc., Kelly A. Brown
53. Innovative Payments Association, Brian Tate
54. Northeast Pennsylvania Manufacturers and Employers Association, Darlene J. Robbins
55. Security State Bank of Oklahoma, Tipton Burch
56. Michelle Benson
57. Reliance Bank, Matt Verdoorn
58. J. Stephen Smith
59. CNB Bank, Mark Harrell
60. Union Bank, Inc., Tim Aiken
61. Classic Bank, Terry Richter
62. Cattlemens Bank, Rick Holder
63. Williamstown Bank, Sharon K. Anderson
64. The Peoples Bank Co., Daniel R. Broering
65. West Gate Bank, Carl J. Sjulin
66. Hardin County Savings Bank, David J. Vander Wilt
67. Extended Exposure, Jamie Flynn
68. TriStar Bank, TriStar Bank
69. San Bernardino County GOP, Fontana Chamber of Commerce, Phil Cothran
70. Committee on Capital Markets Regulation. John L. Thornton, et al.
71. Form Letter A, 117 other commenters
72. Steven J. Bode
73. South Dakota Bankers Association, Karlton C. Adam
74. Lee Bank and Trust Company, Vanessa Wynn
75. The Grant County Bank, George Ford
76. Merchants and Farmers Bank, Ashton Adock
77. First Northern Bank of Wyoming, Thomas A. Holt
78. Morgantown Bank & Trust Company, Jason Jones
79. Keen Bank, Bernie Gaytko
80. Community Spirit Bank, Brad Bolton
81. Andrew Johnson Bank, Randy J. Sizemore
82. Bank of Montgomery (BOM), Ken Hale
83. Celtic Bank, Todd Boren and Reese Howell, Jr.
84. West Union Bank, Thomas F. Whaling
85. North American Banking Company
86. Pilgrim Bank, Brent Woodruff
87. The Bankers Bank, Miles T. Pringle
88. The Tri-County Bank (TCB), Jon D. Schmaderer
89. Webster Bank, John Ciulla
90. Arnold & Porter, David F. Freeman, Jr.
91. Citizens Bank of West Virginia, Nathaniel S. Bonnell
92. Community Development Bankers Association (CDBA), Brian Blake
93. Texas Bank and Trust, Rogers Pope, Jr.
94. Independent Bankers Association of Texas (IBAT), Christopher L. Williston IV
95. Locality Bank, Keith Costello
96. Mid-Size Bank Coalition of America (MBCA), Brent Tjarks
97. Riverside County Black Chamber of Commerce (Riverside, CA), Pepi Jackson
98. Community Bankers Association of Illinois, David G. Schroeder
99. CS Bank, Charlie Cross
100. Goldstein Mediation, Jill Goldstein
101. Grayman, LLC, Scott Nistico
102. Oakdale Area Chamber of Commerce in Minnesota, Marc Cove
103. The Bancorp Bank, N.A., Paul Frenkiel
104. Troy Bank & Trust, John R. Ramage
105. Washington State Bank, Kip Bertrand
106. Adams County Economic Alliance, Robin Fitzpatrick
107. Alden State Bank, Steven J. Woodard
108. Askew Houser, Timothy P. Houser
109. Betterment, Megan Fitzgerlad and Danielle Goldenberg
110. Community Bankers of Michigan (CBM), James R. North
111. D.L. Evans Bank, John V. Evans, III
112. Dundee Bank, Andrew Witt
113. Legends Bank, Thomas Bates, Jr.
114. Shamrock Bank, NA, Curtis Armor
115. Whitesville State Bank, Lee Milam
116. Accents by MJ, Mary Jo Kukowski
117. American Bankers Association (ABA), Alison Touhey
118. BankIn Minnesota, Jim Amundson
119. Bluff View Bank, Lindsay N. Spitzer
120. Electronic Transactions Association (ETA), Scott Talbott
121. FNB Oxford Bank, John L. Barrett
122. People's Bank, Julia Beattie
123. Reich & Tang Deposit Networks (R&T), Joseph Jerkovich
124. Sadia Samsundar
125. Summit Bank, Craig Wanichek
126. American Bank & Trust, Jeff Rose
127. American Bankers Association (ABA) and 52 State Bankers' Associations, Alison Touhey and Ashtyn Landen
128. APEX Clearing Corporation, Rajeev Khurana
129. First International Bank & Trust (FIBT), Trent Sorbe
130. Home State Bank, Tiffany Sohm
131. IntraFi, William Bergin
132. Securities Industry and Financial Markets Association (SIFMA), Guowei Zhang
133. The Charles Schwab Corporation, Peter J. Morgan, III
134. Third Coast Bank, John McWhorter and Bart Caraway
135. U.S. Chamber of Commerce, Bill Hulse
136. American Fintech Council (AFC), Ian P. Moloney
137. Better Markets, Shayna Olesiuk
138. Chickasaw Community Bank, Bill Schonacher
139. Coinbase, Faryar Shirzad
140. Financial Services Forum, Kevin Fromer
141. Financial Technology Association (FTA), Penny Lee
142. Glenwood State bank, Jenn R. Spartz
143. Six Trees Capital LLC, Gary E. Zimmerman
144. Stride Bank, N.A., Rusty LaForge
145. The Colorado Bankers Association and Texas Bankers Association
146. African American Chamber of Commerce of San Joaquin (AACCOFSJ), Craig Wafer
147. CFG Bank, Erik Howard
148. CNote Group, Inc., Candice Carr
149. Independent Community Bankers of America (ICBAC) and 43 State Banking Associations
150. Michigan Bankers Association (MBA), Patricia Herndon
151. NBKC Bank, Eric Garretson
152. PMA Asset Management, LLC and Public Trust Advisors, LLC (PTA), David J. Lutter
153. Raisin Solutions US LLC, Cetin Duransoy
154. The National Bankers Association (NBA), Nicole A. Elam
155. Wisconsin Bankers Association (WBA), Rose Oswald Poels
156. American Bankers Association (ABA) and 6 other organizations
157. Bank Policy Institute (BPI), Tabitha Edgens
158. Conference of State Bank Supervisors (CSBS), Karen K. Lawson
159. Cross River, Arlen Gelbard
160. LPL Financial LLC, Brett Goodman
161. New Market Bank, Anita Drentlaw
162. Sutton Bank, James Booker
163. TechNet, Carl Holshouser
164. Valley National Bank, Ira Robbins
165. Visa Inc., Ky Tran-Trong

Meeting Memoranda

01. Meeting Memoranda Between Office of the Comptroller of the Currency and Goldman Sachs, Bank of America, Morgan Stanley, Raymond James, and Charles Schwab (PDF)
02. Meeting Between Staff of the Federal Deposit Insurance Corporation (FDIC) and Representatives of Industry Participants (PDF)
03. Meeting with Securities Industry and Financial Markets Association and Other Industry Participants (PDF)
04. Meeting Memoranda between Office of the Comptroller and Securities Industry and Financial Markets Association (SIFMA) (PDF)
05. Meeting with Advisory Committee on Community Banking (CBAC)
06. Meeting with the Minority Depository Institutions Subcommittee of the FDIC’s Advisory Committee on Community Banking


 

Last Updated: November 22, 2024