Broker Deposit Limitation Act

[AI summary unavailable — showing source text] Broker Deposit Limitation Act - Amends the Federal Deposit Insurance Act and the National Housing Act to limit, in any case in which a deposit broker deposits funds for the benefit of any person in one or more insured banks, the total amount of deposit insurance benefits payable to such person by the Federal Deposit Insurance Corporation with respect to such funds to not more than $100,000 in any four-year period. Declares that the Corporation shall not differentiate between deposits made with the assistance of a deposit broker and deposits made without such assistance in determining the total amount of insured deposits which may be made by any person. Provides that if an insured bank's unimpaired capital and surplus is less than three percent of its total liabilities such bank shall not accept any short-term broker deposits. Permits an insured bank, if its unimpaired capital and surplus is equal to, or exceeds, three percent of its total liabilities, to accept insured short-term broker deposits in amounts which do not exceed a certain limit. Permits the Corporation to authorize any insured bank, upon application, to maintain insured short-term broker deposits in excess of such lim…