NBID Rises to 800 Members: The Bank-Owned Deposit Network
NBID Reaches Over 800 Member Banks Across the US
Last week, the National Bank InterDeposit Company (NBID) officially reached over 800 member banks across the United States. Since our last update in late June, Congress passed the 21st Century ROAD to Housing Act, expanding the reciprocal deposits banks can hold as non-brokered funding and letting well-capitalized banks under $10 billion in assets treat custodial deposits as core funding for the first time. The legislation passed by wide, bipartisan margins in both chambers, reinforcing reciprocal deposits as a proven, stable foundation for community and regional bank funding. Read the full release.
Institutions of every size, from community banks to super regionals, are turning to NBID for the key benefits of membership.
Key Benefits of NBID Membership
Banks and representatives interested in learning more about NBID and its services can reach out to NBID at contact@nbid.com. The full list of member banks is available at nbid.com/bank-list.
NBID LLC is not a bank. Deposit insurance covers the failure of insured institutions, not NBID. Deposits are placed at FDIC-insured network institutions and are eligible for pass-through insurance up to $250,000 per institution. Certain conditions must be satisfied for “pass-through” FDIC deposit insurance coverage to apply. A list of participating banks appears at https://www.nbid.com/bank-list.
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