The FDIC today released the final version of its long-awaited handbook to help de novo banks apply for deposit insurance.
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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.
FDIC-insured banks and savings institutions earned $43.7 billion in the fourth quarter, up 7.7 percent from the industry’s earnings a year before, the FDIC said today.
The FDIC is asking for comments on a new handbook it has developed to help de novo banks apply for deposit insurance.
The OCC today issued a final rule establishing a framework for how the agency will handle receiverships for national banks not insured by the FDIC, such as trust banks and other special purpose charters.
The FDIC board today approved a final rule 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.
ABA today urged the OCC to keep in mind the fundamentally different business models of uninsured trust and fiduciary banks as it develops its rulemaking for the resolution of national banks without deposit insurance.
ABA today wrote to members of the Senate Banking, Housing and Urban Affairs Committee in support of S. 3373, a bipartisan bill introduced by Sens. Mark Warner (D-Va.) and Jerry Moran (R-Kan.) that would clarify that reciprocal deposits of another insured depository institution are not considered brokered deposits.
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.
ABA staff experts estimate that the FDIC’s insurance fund likely reached 1.15 percent of insured deposits by the end of June.