Banks supervised by the Federal Deposit Insurance Corp. may get relief from restrictions on brokered deposits if they were hurt by the government takeover of Fannie Mae and Freddie Mac, the FDIC said Thursday.
Community banks have urged regulators to help them restore capital since the Sept. 7 takeover helped wipe out the value of banks' preferred stock in the two government-sponsored enterprises.
The FDIC said in a letter that it would take a "flexible supervisory approach" with affected institutions needing to raise capital. That includes potentially easing limits on brokered deposits.
Normally, institutions that become "adequately capitalized" cannot accept new brokered deposits without a waiver from the regulator.
The FDIC said it would "take into account the unique nature of this situation" for banks affected by the GSE conservatorship "when considering requests for waivers from brokered deposit restrictions."