Press Releases FDIC to Hold Roundtable on Brokered Deposits
FOR IMMEDIATE RELEASE
March 1, 2011
David Barr (202) 898-6992
Cell: (202) 340-4922
As part of the implementation of the Dodd Frank Wall Street Reform and Consumer Protection Act, the Federal Deposit Insurance Corporation will host the fifth in a series of roundtable discussions with key stakeholders. The discussion will focus on a study of core and brokered deposits, as required under the Act, and will take place Friday, March 18, 2011 from 10 a.m. to noon.
Government officials, industry executives and other stakeholders will discuss the current brokered deposit restrictions contained in the Federal Deposit Insurance Act and related regulations as well as more recent innovations in the methods institutions use to gather deposits. Dialogue will focus on the relative volatility or stability of certain deposits as well as their franchise value and how these features are affected by the underlying characteristics of a deposit, such as interest rate and relationship with the depositor.
Participation in the roundtable is based on achieving a diverse set of views to produce a constructive and collaborative discussion. The FDIC will make available a live public Web cast of the roundtable on the day of the event. An archive will be made available approximately two to three days following the live Web cast. Additionally, the FDIC invites comments relative to this study. Comments should be submitted to email@example.com by May 1, 2011. Please visit http://www.fdic.gov/regulations/reform/coredeposits.html for additional information. The FDIC will review and take the comments into account when preparing the study.
The roundtables are part of the FDIC's overall effort to bring transparency into the implementation of the Dodd Frank Act. The first forum was held on August 31, 2010 and centered on the new resolution authority provided in Dodd Frank.
The FDIC has created a dedicated Web site for financial regulatory reform. The site contains: a list of events, including any subsequent roundtable discussions; a place for interested parties to submit and view comments on financial regulatory reform; and information on the FDIC's overall open-door policy on reform. The site can be accessed directly by going to: http://www.fdic.gov/financialreform/.
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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 7,657 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-50-2011