FDIC Addresses Swept Funds Brokered Treatment

Doubtless reflecting Acting Chairman Gruenberg’s tougher approach to brokered deposits, the FDIC today tightened its current rule (see FSM Report DEPOSITINSURANCE111) via new interpretation.  This states that swept funds received from unaffiliated broker-dealers under the primary-purpose exception must be considered brokered if any third parties qualifying as deposit brokers are involved.

BIS Evaluates Macro-Financial Stability Frameworks

BIS today sent the G20 a report on macro-financial stability frameworks and external financial conditions.  It includes an analysis of macroprudential policy, foreign exchange interventions, and capital flow management measures along with an overview of scenarios in which these may be implemented through complementary monetary and fiscal policies.

Daily071522.pdf