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The Text of the Dodd-Frank Act
International Association of
Risk and Compliance Professionals (IARCP)
Dodd Frank Act Section 1506
SEC. 1506. STUDY ON CORE DEPOSITS AND
BROKERED DEPOSITS.
(a) STUDY.—The Corporation shall
conduct a study to evaluate—
(1) the definition of core
deposits for the purpose of calculating the insurance premiums of
banks;
(2) the potential impact on the Deposit Insurance
Fund of revising the definitions of brokered deposits and core
deposits to better distinguish between them;
(3) an
assessment of the differences between core deposits and brokered
deposits and their role in the economy and banking sector of the
United States;
(4) the potential stimulative effect on
local economies of redefining core deposits; and
(5) the
competitive parity between large institutions and community banks
that could result from redefining core deposits.
(b)
REPORT TO CONGRESS.—Not later than 1
year after the date of enactment of this Act, the Corporation
shall submit to the Committee on Banking, Housing, and Urban
Affairs of the Senate and the Committee on Financial Services of
the House of Representatives a report on the results of the study
under subsection (a) that includes legislative recommendations, if
any, to address concerns arising in connection with the
definitions of core deposits and brokered deposits.
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