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 ?
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.
The other billion dollars attributed to BOZ's headquarters in Little Rock came from brokered deposits, bundled deposits that banks seek out in order to fund loan demand.
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.
The FDICIA included other provisions as well, such as new real estate lending guidelines and restrictions on the use of brokered deposits [FDIC, 1992 Annual Report, pp.
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.