Browsing: Deposit insurance

Newsbytes

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.

Newsbytes

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.

Newsbytes

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.