Bank Application Resources – Brokered Deposit Waiver
Section 29 of the Federal Deposit Insurance Act (“FDI Act”) restricts less than “well capitalized” institutions from accepting brokered and high-rate deposits. An institution with a capital category of “adequately capitalized” may accept deposits from a deposit broker only if it has received a waiver from the FDIC. An institution that has a capital category of “undercapitalized” or worse is prohibited from accepting deposits from a deposit broker. This page includes resources regarding the processing of brokered deposit waiver applications. For more information on brokered deposits, please refer to the Banker Resource Center Brokered Deposits webpage.
- Prior to submitting an application that involves unique or unusual circumstances, an institution should contact their appropriate FDIC Regional Office.
Resources Specific to Applications for Brokered Deposit Waivers
- Section 303.243(a) of the FDIC's Rules and Regulations - Brokered Deposit Waivers Letter Application - Filing Procedures and Filing Content Requirements
Laws and Regulations
- Section 29 of the FDI Act — Brokered Deposits
- Section 38 of the FDI Act — Prompt Corrective Action
- Section 337.6 — Brokered Deposits
- Frequently Asked Questions on Identifying, Accepting and Reporting Brokered Deposits
- Study on Core Deposits and Brokered Deposits
- Advisory Opinions on Brokerage Services
- Deposit Broker's Processing Guide
Laws, Regulations, and Supervisory Guidance