Brokered Deposit

Brokered Deposit

A large sum of money composed of many smaller sums offered to a broker by investors. The small sums are compiled into a brokered deposit to qualify for a higher interest rate when the broker deposits it into an investment vehicle.
References in periodicals archive ?
There are times in the brokered deposit market when those funds are actually cheaper.
Keating's top lieutenant, Judy Wisher, once said in court testimony that the Regardie's piece was "very, very damaging," that it curtailed the thrift's brokered deposit program and caused lenders to refuse to renew some of its holding company's credit lines.
Please contact the Lending Desk or your Regional Account Manager if you have any questions on factoring the favorable impact the above-market dividend has on FHLBank advance rates and for ideas about how to compare the all-in cost to various deposit pricing strategies and brokered deposit funding options.
While that approach has some appeal, it has the obvious disadvantage that it would eliminate those aspects of the brokered deposit market that serve a constructive purpose.
The bulk of what you are seeing is our brokered deposit activity, which is necessary to fund the loan demand we've had," said Nat Bothwell, ANB's marketing director.
The agreement requires, among other things, that the Bank strengthen capital, address deterioration of asset quality, and formalize written plans related to credit concentrations, liquidity, and brokered deposit levels.
This growth in deposits helps to fund our loan growth while decreasing our reliance on wholesale funding and brokered deposits.
The FDIC will mail checks for time deposit accounts, including all other CDs, individual retirement accounts (IRAs), and brokered deposits, directly to account holders on Monday, May 1.
in performance and confidence sensitive ABS and brokered deposits which
First Southern Bank has said that it has acquired mostly all of the assets and the deposits, except brokered deposits, of First Commercial Bank of Florida from the Federal Deposit Insurance Corporation (FDIC), more than doubling its community bank franchise.
Jacksonville-based EverBank has agreed to assume all deposits, excluding certain brokered deposits.
Brokered deposits combined with rapid asset growth have played a role in a number of costly failures, including some recent ones, said FDIC.