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ABA: The American Bankers Association
Statement

ABA Statement on FDIC National Rate Cap Proposal

“We thank the FDIC for its important work to modernize brokered deposit regulations, and for taking the more immediate step of addressing the National Rate Cap. We appreciate the FDIC’s recognition that the National Rate Cap was never intended to be applied to well-capitalized banks, and for updating its supervisory and examination manual to reflect that fact. We also look forward to working with the FDIC to further improve the National Rate Cap so that it does not set or interfere with market rates, and provides banks flexibility to meet the needs of their depositors.”

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About the American Bankers Association

The American Bankers Association is the voice of the nation’s $22.5 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $18 trillion in deposits and extend nearly $11 trillion in loans.

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Ian McKendry

(202) 663-5473

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