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Financial Institution Letters

Brokered Deposits and Interest-Rate Restrictions
Telephone Seminar for Financial Institution Officers and Employees
FIL-70-2009
December 8, 2009


Summary: The FDIC will host a free telephone seminar for financial institution officers and employees to discuss issues related to brokered deposits and the interest-rate restrictions under Section 337.6 of the FDIC's Rules and Regulations on December 10, 2009, at 2:00 p.m. EST.

Highlights:
  • 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.
  • 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.
  • Participants are encouraged to submit questions in advance to RAC@FDIC.gov with Brokered Deposits in the subject line.
  • 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).


Last Updated 1/14/2010 communications@fdic.gov