The Federal Deposit Insurance Corporation (FDIC) Board of Directors approved an interim final rule to implement section 902 of the 21st Century ROAD to Housing Act. The rule raises the reciprocal deposits exclusion limit for ‘agent institutions’ to $30 billion using a tiered liability-based calculation. It also broadens the definition of ‘agent institution’ and clarifies reciprocal deposits framework operations. Comments on the rule must be submitted within 30 days of its publication in the Federal Register. The change aligns with the Housing Act’s statutory framework governing reciprocal deposits.
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