Financial technology has altered how money moves. What risks are posed to banks and customers when these funds are brokered between banks? Are brokered deposits the risky form of “hot money” associated with troubled banks? Or, are they tools of cash management serving a new financial landscape? Do regulations need to change and, if so, how?
On Wednesday, December 11, the Center on Regulation and Markets at Brookings hosted FDIC Chairman Jelena McWilliams to share her insights and thoughts on the balance between modernizing regulation to adapt to technology while ensuring safety and soundness for depositors. Following McWilliams’ speech, a panel of experts offered their perspectives.