H.R. 5317
Excludes some custodial deposits from brokered deposit rules
Banks with under $10 billion in assets could hold certain custodial deposits without them counting as brokered deposits, which come with extra oversight.
- Applies to insured banks with less than $10 billion in total assets
- Those deposits cannot be more than 20% of the bank's liabilities
- The bank must be well-capitalized and meet a soundness rating, or get a waiver
- Existing interest rate limits would generally apply to similar banks holding these deposits
Passed the House · Senate's turn