Determining Conformance With Interest Rate Restrictions for Less Than Well Capitalized Institutions
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Determining Conformance With Interest Rate Restrictions for Less Than Well Capitalized Institutions



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Details:

  • Publisher's site:
  • Corporate Authors:
    Federal Deposit Insurance Corporation (FDIC)
  • Description:
    The FDIC Board approved a final rule on May 29, 2009, changing the way the FDIC administers its statutory restrictions on the deposit interest rates paid by banks that are less than well capitalized under Section 337.6 of the FDIC Rules and Regulations (see FIL-25-2009). The final rule redefines the national rate as "a simple average of rates paid by insured depository institutions and branches for which data are available" and deems the national rate to be the prevailing rate for all market areas. Once the final rule is effective on January 1, 2010, an institution can use the prevailing rates in its market area to determine conformance only if it seeks and receives a determination from the FDIC that it is operating in a high rate area.
  • Content Notes:
    FIL-25-2009
  • Subject:
  • Dataset Download URL:
    fdic.gov/news/financial-institution-letters/2009/fil09062.html
  • Format:
    PDF
  • Release Date:
    11/03/2009
  • Update Date:
    11/14/2018
  • Withdrawn Date:
    12/01/2018
  • Agencies Involved:
    Federal Deposit Insurance Corporation (FDIC)
  • Fdic Employee Involved:
    Lou Bervid;Robert B. Reddish;
  • Related Regulation:
    12 C.F.R. Section 337.6
  • Source:
    FDIC Website
  • Memorandum To:
    FDIC-Insured Institutions
  • Effective Date:
    01/01/2010
  • FIL Number:
    FIL-62-2009
  • Main Document Checksum:
  • Download URL:
  • File Type:
    Filetype[PDF-1.25 MB]

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