Brokered Deposit

(redirected from Brokered Deposits)

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 ?
Total deposits, which include brokered deposits, increased USD5.
57 billion of those were brokered deposits held with the former ANB Financial of Bentonville.
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.
In addition, institutions that are not allowed to accept brokered deposits may also lose "pass-though" deposit insurance on new deposits or rollovers of existing deposits obtained from fiduciaries such as pension funds and insurance companies.
These requirements include prompt corrective action rules, risk-related insurance premiums and brokered deposits.
But as regulators have taken drastic actions to intimidate financial institutions from using brokered deposits, either as a source of funds or as earning assets, CD rates are no longer even a crude indicator.
Furthermore, due to its modest branch network, HCG exhibits a significant reliance on relatively high cost brokered deposits and securitization for funding.
As recently as June 2008 brokered deposits were 18.
All of this talk about money being shipped to Texas is wrong, because of the brokered deposits," says Robert E.
The FDIC has accepted a bid from Grandpoint Bank, a California state-chartered bank, to acquire First Vietnamese American and assume its deposits, except certain brokered deposits.