Who can accept brokered deposits?
Section 29 of the FDI Act, implemented by Part 337 of the FDIC Rules and Regulations, states that a well capitalized, insured depository institution is allowed to solicit and accept, renew or roll over any brokered deposit without restriction. An adequately capitalized, insured depository institution may accept, renew or roll over any brokered deposit once it has applied for and been granted a waiver by the FDIC. An undercapitalized insured depository institution may not accept, renew, or roll over any brokered deposit.
