• Brokered Deposit Guidance: FDIC Issues Frequently Asked Questions on Identifying, Accepting, and Reporting Brokered Deposits
  • April 20, 2015 | Authors: Whitney A. Chatterjee; H. Rodgin Cohen; Elizabeth T. Davy; Mitchell S. Eitel; Michael T. Escue
  • Law Firm: Sullivan & Cromwell LLP - New York Office
  • On January 5, 2015, the Federal Deposit Insurance Corporation (the “FDIC”) issued a Financial Institutions Letter (FIL-2-2015) (the “Guidance”), setting forth sweeping guidance regarding brokered deposits in the form of FAQs. The Guidance answers a wide range of questions regarding classification of deposits as brokered, as well as acceptance and reporting of brokered deposits.