Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.
FDIC clarifies Reciprocal Deposits rule
The FDIC has published technical amendments [84 FR 15095, 4/15/2019] to the preamble of a final rule [84 FR 1346] published in the Federal Register on February 4, 2019. The final rule relates to a limited exception for a capped amount of reciprocal deposits from treatment as brokered deposits. As published, several industry participants raised concerns about the meaning of a sentence in the preamble of the final rule.
The FDIC did not intend the preamble language to change existing interpretations related to accepting or receiving deposits. To avoid potential confusion, the FDIC has amended the language by removing the sentence in question and its footnote, and amended the sentence that follows.
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