Brokered deposits
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Brokered deposits hearing before the Subcomittee on Financial Institutions and Consumer Affairs of the Committee on Banking, Housing, and Urban Affairs, United States Senate, first session, on oversight hearing on the brokered deposits market concerning the benefits and abuses to the economy, the consumer, and the federal insurance system, June 5, 1985. by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Financial Institutions and Consumer Affairs.

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Published by U.S. G.P.O. in Washington .
Written in English

Subjects:

  • Federal Deposit Insurance Corporation.,
  • Federal Savings and Loan Insurance Corporation.,
  • Banks and banking -- United States.,
  • Loans -- United States.,
  • Bank failures -- United States.,
  • Brokers -- United States.

Book details:

Edition Notes

Other titlesAddendum, brokered deposits.
SeriesS. hrg -- 99-201
The Physical Object
Pagination2 v. :
ID Numbers
Open LibraryOL22229660M

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brokered deposits by less than well-capitalized insured depository institutions. Also, section restricts the interest rates that may be offered on deposits by such institutions. Recently, the FDIC amended the interest-rate restrictions. See 74 Fed. Reg. (J ). The term "deposit broker" refers to any person engaged in the business of placing deposits or facilitating the placement of deposits with insured depository institutions for a third party. To see the FDIC's definitions of "brokered deposit"" and "deposit broker", view C.F.R. at . The Federal Deposit Insurance Corp. is considering changing its rules governing brokered deposits, as American Banker recently reported.A number of bankers have urged the FDIC to liberalize the current rules so they might fund their banks more readily and extensively by purchasing money from deposit .   Figuring out how to update rules for banks that buy and sell deposits is proving to be more complicated than federal regulators had expected. The Federal Deposit Insurance Corp. has been working on a proposal for rewriting its rules governing so-called brokered deposits, which some banks sell to third-party brokers, who then place them with other banks. The FDIC is asking whether it needs .

Brokered CDs are certificates of deposit purchased through a brokerage firm or broker. These time-deposit savings products are similar to traditional CDs found at a bank, but they differ in that.   Brokered CDs, as the name suggests, are brokered. It means that somebody (you or your financial advisor, for example) surveys the marketplace to find the best CD rates available. Like other CDs, you agree to keep your money in the CD for a specified term, and a bank agrees to pay you a certain amount of interest. What are Brokered Deposits • "Brokered Deposit" is any deposit that is obtained, directly or indirectly, from or through the mediation or assistance of a deposit broker. 12 CFR §(a)(2) • "Deposit broker" means any person engaged in the business of: − placing deposits.   The biggest advantage of brokered CDs is the ease of depositing large amounts of money in different banks through the brokerage firm. This allows you to keep your deposits under $, at each institution, which means that you are insured by the FDIC.

  Under Section 29 of the Federal Deposit Insurance Act, a brokered deposit is any deposit obtained through a deposit broker. So the definition of deposit broker is critical. Essentially, the term means any person engaged in the business of placing or facilitating the placement of deposits of third parties with insured depository institutions. brokered deposit, brokered sweep deposit, or other type of brokered deposit. The outflow rate Brokered Deposit Guidance Janu For example, brokered deposits that are not reciprocal brokered or brokered sweep deposits are assigned a % outflow rate if they have no maturity or mature within the LCR’s day window. like to address the subset of brokered deposits known as “brokered CDs.” Brokered CDs, as the term is used herein, are certificates of deposits issued in wholesale amounts by a bank and sold through a registered broker-dealer to investors in fully-insured amounts. These brokered CDs are held in book . Reciprocal deposits are a way for you to keep your customers’ deposits on your books. And a way to attract more large-dollar deposits to put to work in your community. Read more about the opportunity in the American Banker article entitled, Reform Law has an Overlooked Benefit for Funding-Hungry Banks.