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 and resources 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 Procedures
- Section 303.243(a) of the FDIC Rules and Regulations - Brokered Deposit Waivers Letter Application - Filing Procedures and Filing Content Requirements
- Section 303.243(b) — Application for Primary Purpose Exception
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
- Section 337.7 — Interest Rate Restrictions
- Section 327.16 of the FDIC Rules and Regulations - Assessment Pricing Methods
Other Resources
- Banker Resource Center Brokered Deposits
- Frequently Asked Questions on Identifying, Accepting and Reporting Brokered Deposits
- Questions and Answers Related to Brokered Deposits Rule
- Study on Core Deposits and Brokered Deposits
- Deposit Broker's Processing Guide
PDF Help - Information on downloading and using the PDF reader.