Highlights:
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This presentation will include a discussion of:
- Concerns with using brokered or other wholesale funds to fund aggressive growth or other risky strategies.
- Brokered deposit and interest-rate restrictions under Section 337.6.
- Revisions to the interest-rate restrictions under Section 337.6, effective on January 1, 2010, including a discussion of the process for institutions to submit high-rate area determination requests.
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Financial institution officers and employees wishing to participate in this telephone seminar should dial 1-800-857-4868 and enter passcode 8454400# to join the presentation approximately ten minutes before the 2:00 p.m. EST start time.
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Participants are encouraged to submit questions in advance to RAC@FDIC.gov with Brokered Deposits in the subject line.
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Participants are also encouraged to have FIL-69-2009, "Process for Determining if an Institution Subject to Interest-Rate Restrictions Is Operating in a High-Rate Area," which includes a question and answer document, available during the presentation. FIL-69-2009 is attached.
Distribution:
All FDIC-Insured Banks (Commercial and Savings)
Suggested Routing:
Chief Executive Officer
Chief Operations Officer
Compliance Officer
Related Topics:
Section 337.6 of the FDIC Rules and Regulations
FIL-69-2009, "Process for Determining if an Institution Subject to Interest-Rate Restrictions Is Operating in a High-Rate Area"
Attachment:
FIL-69-2009, "Process for Determining if an Institution Subject to Interest-Rate Restrictions Is Operating in a High-Rate Area"
Brokered Deposits and Interest-Rate Restrictions Telephone Seminar (FDIC Channel on You Tube)
Brokered Deposits and Interest-Rate Restrictions Telephone Seminar Transcript (PDF Help)
Contact:
Senior Examination Specialist Lou Bervid at lbervid@fdic.gov or (202) 898-6896
To participate, dial 1-800-857-4868 and enter pass code 8454400#.
Printable Format:
FIL-70-2009 - PDF (PDF Help)
Note:
FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2009/index.html.
To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html.
Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-275-3342 or 703-562-2200).
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