To amend the Federal Deposit Insurance Act to ensure that certain custodial deposits of a well capitalized insured depository institution are not considered to be funds obtained by or through a deposit broker, and for other purposes.
Community Bank Deposit Access Act of 2019
This bill specifies that certain custodial deposits shall not be considered to be brokered deposits, which are subject to additional regulatory requirements, including those related to liquidity. The bill generally defines a custodial deposit as a deposit made by a certain entity serving as an agent, trustee, or custodian at an insured depository institution for the purpose of providing deposit insurance for the benefit of a third party.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
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