Rule2026-11044
Unsafe and Unsound Banking Practices: Brokered Deposits and Interest Rate Restrictions; Correction
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
June 3, 2026
Effective
June 3, 2026
Issuing agencies
Federal Deposit Insurance Corporation
Abstract
The Federal Deposit Insurance Corporation (FDIC) is correcting a final rule that was published in the Federal Register on January 22, 2021.
Full Text
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<title>Federal Register, Volume 91 Issue 106 (Wednesday, June 3, 2026)</title>
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[Federal Register Volume 91, Number 106 (Wednesday, June 3, 2026)]
[Rules and Regulations]
[Pages 33069-33070]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2026-11044]
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FEDERAL DEPOSIT INSURANCE CORPORATION
12 CFR Part 337
RIN 3064-AF76
Unsafe and Unsound Banking Practices: Brokered Deposits and
Interest Rate Restrictions; Correction
AGENCY: Federal Deposit Insurance Corporation.
ACTION: Correcting amendments.
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SUMMARY: The Federal Deposit Insurance Corporation (FDIC) is correcting
a final rule that was published in the Federal Register on January 22,
2021.
DATES: Effective on June 3, 2026.
FOR FURTHER INFORMATION CONTACT: Justin Hagerty, Senior Examination
Specialist, Division of Risk Management Supervision, (319) 382-2760,
<a href="/cdn-cgi/l/email-protection#62282a03050710161b2204060b014c050d14"><span class="__cf_email__" data-cfemail="7b31331a1c1e090f023b1d1f1218551c140d">[email protected]</span></a>; Shane Bogusz, Senior Attorney, Legal Division, (366)
571-0212, <a href="/cdn-cgi/l/email-protection#673425080012141d2701030e0449000811"><span class="__cf_email__" data-cfemail="efbcad80889a9c95af898b868cc1888099">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION:
I. Background
This Federal Register Notice corrects technical errors in the
FDIC's regulations concerning brokered deposits, 12 CFR parts 303 and
337, which were amended by a final rule published in the Federal
Register on January 22, 2021 (2021 rule). The 2021 rule inadvertently
deleted the text accompanying two footnotes (which, additionally, were
previously misnumbered) in 12 CFR 337.6(a)(3)(i). The 2021 rule also
failed to update a cross-reference to 12 CFR 337.6(b)(2)(ii), a section
which was relocated to 12 CFR 337.7(c)(2). Finally, the 2021 rule
inadvertently used the term ``assets under management'' in the
regulatory text for Part 303 when the rule's preamble, as well as two
related provisions of the FDIC's regulations, used the correct
terminology, ``assets under administration,'' to describe the same
concept. Through this document, the FDIC is correcting these
inadvertent errors, as well as making several minor grammatical
changes.
II. Administrative Law Matters
The Administrative Procedure Act (``APA'') generally requires an
agency to publish notice of a rulemaking in the Federal Register and
provide an opportunity for public comment. This requirement does not
apply, however, if the agency ``for good cause finds . . . that notice
and public procedure are impracticable, unnecessary, or contrary to the
public interest.'' \1\ The technical amendments do not impose any new
substantive regulatory requirements on any party. The technical
amendments make minor revisions to promote clarity and consistency, as
well as correct certain drafting errors contained in the 2021 brokered
deposit rule. For these reasons, there is good cause for the FDIC to
find that it is unnecessary to publish
[[Page 33070]]
notice of these amendments in the Federal Register or to solicit public
comment thereon.
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\1\ 5 U.S.C. 553(b)(3)(B).
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Although the APA generally requires publication of a rule at least
30 days before its effective date, for similar reasons there is good
cause for the amendments to take effect on June 3, 2026. Additionally,
the provisions of the Regulatory Flexibility Act,\2\ which apply only
when notice and comment are required by the APA or other law, are not
applicable. These amendments do not contain any collection of
information requirements as defined by the Paperwork Reduction Act of
1995.\3\
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\2\ 5 U.S.C. 601 et seq.
\3\ 44 U.S.C. 3501 et seq.
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List of Subjects
12 CFR Part 303
Administrative practice and procedure, Bank deposit insurance,
Banks, Banking, Reporting and recordkeeping requirements, Savings
associations.
12 CFR Part 337
Banks, Banking, Reporting and recordkeeping requirements, Savings
associations, Securities.
Authority and Issuance
For the reasons stated in the preamble, the FDIC corrects 12 CFR
parts 303 and 337 by making the following correcting amendments:
PART 303--FILING PROCEDURES
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1. The authority citation for part 303 continues to read as follows:
Authority: 12 U.S.C. 378, 1464, 1813, 1815, 1817, 1818, 1819(a)
(Seventh and Tenth), 1820, 1823, 1828, 1829, 1831a, 1831e, 1831o,
1831p-1, 1831w, 1835a, 1843(l), 3104, 3105, 3108, 3207, 5414, 5415,
and 15 U.S.C. 1601-1607.
Sec. 303.243 [Amended]
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2. Amend Sec. 303.243 by:
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a. Removing the text ``well-capitalized'' in each place it appears and
adding in its place the text ``well capitalized''.
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b. In paragraph (a)(1):
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i. Adding a comma after the word ``renew'' in each place that it
appears; and
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ii. Removing the word ``federal'' and adding in its place the word
``Federal''.
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c. In paragraph (a)(3)(iii):
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i. Adding a comma after the word ``rates''; and
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ii. Adding a comma after the word ``solicitation''.
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d. In paragraph (a)(3)(vi):
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i. Adding a comma after the word ``acceptance''.
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e. In paragraph (b)(4)(ii)(D):
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i. Removing the word ``management'' and adding in its place the word
``administration''.
PART 337--UNSAFE AND UNSOUND BANKING PRACTICES
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3. The authority citation for part 337 continues to read as follows:
Authority: 12 U.S.C. 375a(4), 375b, 1463, 1464, 1468, 1816,
1818(a), 1818(b), 1819, 1820(d), 1821(f), 1828(j)(2), 1831, 1831f,
1831g, 5412.
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4. Amend Sec. 337.6 by:
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a. Removing the text ``appropriate federal banking'' in each place it
appears and adding in its place the text ``appropriate Federal
banking'';
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b. Removing the text ``well-capitalized'' in each place it appears and
adding in its place the text ``well capitalized'';
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c. In each place it appears, adding a comma following the word
``renew'';
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d. In each place it appears, adding a comma following the word
``renewal'';
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e. Revising paragraph (a)(3)(i);
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f. Removing the editorial note appearing after (a)(3)(i);
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g. Revising paragraph (a)(5)(iii)(C)(1);
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h. In paragraph (a)(5)(v)(I)(1)(xiii), removing the text ``and'' and in
its place adding the text ``or''; and
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i. In paragraph (d), removing the text ``paragraph (b)(2)(ii) of the
section'' and in its place adding the text ``Sec. 337.7(c)(2)''.
The revisions read as follows:
Sec. 337.6 Brokered deposits.
(a) * * *
(3) * * *
(i) For purposes of section 29 of the Federal Deposit Insurance
Act, this section, and Sec. 337.7, the terms well capitalized,
adequately capitalized, and undercapitalized,\1\ shall have the same
meaning as to each insured depository institution as provided under
regulations implementing section 38 of the Federal Deposit Insurance
Act issued by the appropriate Federal banking agency for that
institution.\2\
[FN1] The term undercapitalized includes any institution that is
significantly undercapitalized or critically undercapitalized under
regulations implementing section 38 of the Federal Deposit Insurance
Act and issued by the appropriate Federal banking agency for that
institution.
[FN2] For the most part, the capital measure terms are defined in
the following regulations: FDIC--12 CFR part 324, subpart H; Board of
Governors of the Federal Reserve System--12 CFR part 208; and Office of
the Comptroller of the Currency--12 CFR part 6.
* * * * *
(5) * * *
(iii) * * *
(C) * * *
(1) A person is engaged in matchmaking activities if the person
proposes deposit allocations at, or between, more than one insured
depository institution based upon both the particular deposit
objectives of a specific depositor or depositor's agent, and the
particular deposit objectives of specific insured depository
institutions, except in the case of deposits placed by a depositor's
agent with an insured depository institution affiliated with the
depositor's agent. A proposed deposit allocation is based on the
particular objectives of:
(i) A depositor or depositor's agent when the person has access to
specific financial information of the depositor or depositor's agent
and the proposed deposit allocation is based upon such information; and
(ii) An insured depository institution when the person has access
to the target deposit-balance objectives of specific insured depository
institutions and the proposed deposit allocation is based upon such
information.
* * * * *
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5. Amend Sec. 337.7 by:
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a. In paragraph (b)(2), removing the comma that follows the word
``monthly''; and
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b. Revising paragraph (c)(1) to read as follows:
Sec. 337.7 Interest rate restrictions.
(c) * * *
(1) Well capitalized institutions. A well capitalized institution
may pay interest without restriction by this section.
Federal Deposit Insurance Corporation
Dated at Washington, DC on May 29, 2026.
Jennifer M. Jones,
Deputy Executive Secretary.
[FR Doc. 2026-11044 Filed 6-2-26; 8:45 am]
BILLING CODE 6714-01-P
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