The Deposit Insurance Fund’s reserve ratio is on track to reach 1.35 percent in 2018, two years earlier than required by statute, according to the agency. As of Dec. 31, 2016, the ratio was 1.2 percent. According to FDIC official Doreen Eberley at ABA’s Government Relations Summit this morning, once the ratio reaches 1.38 percent, the FDIC will apply credits for sub-$10 billion banks’ share of the cost of bringing the ratio from 1.15 percent to 1.35 percent against their deposit insurance assessments.
Trump administration halts CFPB funding, activities
The new acting director of the CFPB has told the Federal Reserve to halt funding for the bureau and ordered staff to pause all activities. The announcement came after Elon Musk on X suggested the CFPB would be...