Broker Deposit Limitation Act

Broker Deposit Limitation Act - Amends the Federal Deposit Insurance Act and the National Housing Act to limit, in any case in which a deposit broker deposits funds for the benefit of any person in one or more insured banks, the total amount of deposit insurance benefits payable to such person by the Federal Deposit Insurance Corporation with respect to such funds to not more than $100,000 in any four-year period.

Declares that the Corporation shall not differentiate between deposits made with the assistance of a deposit broker and deposits made without such assistance in determining the total amount of insured deposits which may be made by any person.

Provides that if an insured bank's unimpaired capital and surplus is less than three percent of its total liabilities such bank shall not accept any short-term broker deposits.

Permits an insured bank, if its unimpaired capital and surplus is equal to, or exceeds, three percent of its total liabilities, to accept insured short-term broker deposits in amounts which do not exceed a certain limit.

Permits the Corporation to authorize any insured bank, upon application, to maintain insured short-term broker deposits in excess of such limitation. Requires the Corporation to consider both competitive factors and safety and soundness in making any such authorization.

Requires the Corporation to work with any insured bank whose total short-term deposits exceed such limitations to develop a plan to provide for the orderly reduction in such deposits to an amount which conforms with such limitations.

Requires the Corporation to require that each insured bank transmit a monthly report to the appropriate Federal supervisory agency detailing the amount of short-term broker deposits it maintains.

Requires each deposit broker which places deposits with any insured bank to transmit periodic reports to the Corporation. Sets forth the information to be contained in such reports.

Prohibits any insured bank from maintaining insured deposits from any one deposit broker in an amount which exceeds five percent of the total deposits of such insured bank which will mature in any 12 month period.

Prohibits any deposit insurance coverage from applying to any deposit which is placed by a deposit broker on behalf of any department or agency of the United States or any depository institution.