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
Application Forms
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
Other
- 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
Other Resources
Laws, Regulations, and Supervisory Guidance