National Rates and Rate Caps | FDIC.gov

Dec 15, 2020 · The FDIC began posting the National Rate and Rate Cap on May 18, 2009. Data is not available prior to May 18, 2009. Data from May 2009 through March 31, 2021, reflects the calculation in effect at that time (averages weighted by branch, and not including credit …

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National Rate On Non-Jumbo Deposits (less Than $100,000 ... - FRED

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Mar 29, 2021 · Graph and download economic data for National Rate on Non-Jumbo Deposits (less than $100,000): Savings (DISCONTINUED) (SAVNRNJ) from 2009-05-18 to 2021-03-29 …

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National Rate On Non-Jumbo Deposits (less Than $100,000 ... - FRED

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Mar 29, 2021 · Graph and download economic data for National Rate on Non-Jumbo Deposits (less than $100,000): Interest Checking (DISCONTINUED) (ICNRNJ) from 2009-05-18 to …

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FAQs about National Rates and Rate Caps | FDIC.gov Coupon?

What is a national rate cap?

The "national rate cap" is calculated as the higher of: (1) the national rate plus 75 basis points; or (2) 120 percent of the current yield on similar maturity U.S. Treasury obligations plus 75 basis points. ...

What is a national rate?

The Final Rule redefined the "national rate" as the average of rates paid by all insured depository institutions and credit unions for which data is available, with rates weighted by each institution's share of domestic deposits. ...

What is a local rate cap?

The Final Rule redefined the "local rate cap" for a particular deposit product as 90 percent of the highest rate offered on the deposit product by an institution or credit union accepting deposits at a physical location within the institution's local market area. ...

How are national rates calculated?

Data used to calculate the national rates are gathered by RateWatch. Savings and interest checking account rates are based on the $2,500 product tier while money market and certificate of deposit are based on the $10,000 and $100,000 product tiers for non-jumbo and jumbo accounts, respectively. ...

What if a depository institution seeks to pay a rate of interest?

In accordance with Section 337.7 (d), an insured depository institution that seeks to pay a rate of interest up to its local market rate cap shall provide notice and evidence of the highest rate paid on a particular deposit product in the institution's local market areas to the appropriate FDIC regional director. ...

How often does the FDIC change interest rates?

Frequency: Monthly On December 15, 2020, the FDIC Board of Directors approved a Final Rule making certain revisions to the interest rate restrictions applicable to less than well capitalized institutions (as defined in Section 38 of the Federal Deposit Insurance Act), which are effective on April 1, 2021. ...