Browsing: Deposit insurance


According to the Quarterly Banking Profile released today, the FDIC’s deposit insurance fund has grown to 1.17 percent of insured deposits in June, up from 1.13 percent in March. With this increase, the fund surpassed a target of 1.15 percent to trigger important changes in the FDIC assessments for all banks.


In a joint letter with three other financial trade associations today, ABA responded to an FDIC proposal that would require banks with more than 2 million deposit accounts to collect extensive depositor information and develop systems that would allow the FDIC to close the bank and use the bank’s system to make deposit insurance determinations.


The FDIC today issued a proposal requiring banks with more than 2 million deposit accounts to upgrade their deposit recordkeeping systems to facilitate the determination of FDIC insured deposits in the event of a bank failure.

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