FDIC Proposes Lower Bank Insurance Fees, Raises Assessment Threshold to $30 Billion
Updated
Updated · Bloomberg · Jun 25
FDIC Proposes Lower Bank Insurance Fees, Raises Assessment Threshold to $30 Billion
2 articles · Updated · Bloomberg · Jun 25
Summary
The FDIC on Thursday proposed cutting what banks pay into the Deposit Insurance Fund, easing a core industry levy tied to federal protection for customer deposits.
The proposal would lower assessments to reflect recent growth in the fund and would raise the asset threshold used in the fee calculation to $30 billion from $10 billion.
Banks and other stakeholders will have 60 days to submit public comments before the regulator decides whether to finalize the changes.
The move would reduce costs for affected lenders while reshaping how the FDIC funds the backstop that covers customer accounts when a bank fails.