Joint letter requesting withdrawal of FDIC brokered deposits proposal or release of data and extended comment period

ICBA and 10 industry associations requested that the FDIC withdraw its proposed rulemaking relating to brokered deposit restrictions. The associations noted that the proposal would have a significant impact on financial institutions and undo other recent FDIC rules.

If the FDIC does not withdraw the proposed rule, the associations requested that the FDIC publish its brokered deposits data and extend the comment period by 60 days.