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Tuesday, July 11, 2006

FDIC Proposes New Risk-Based Insurance Assessment System

The FDIC’s Board of Directors today approved for public comment two proposed rules governing deposit insurance assessments under the Federal Deposit Insurance Reform Act of 2005.  One proposal would create a new system that would more closely tie what banks pay for deposit insurance to the risks they pose.  It also would adopt a new base schedule of rates that the FDIC Board could adjust up or down, depending upon the revenue needs of the insurance fund. The second proposal issued today would continue to set the designated reserve ratio (DRR) for the fund at 1.25 percent of estimated insured deposits.

“We hope that most FDIC-insured institutions will find our proposals reasonable and fair, and we look forward to receiving comments.”

Comments on the proposed rules are due within 60 days of publication in the Federal Register, which is expected to occur within a week.

In a related action, the FDIC Board also issued for comment a proposed new official sign for institutions to display at teller stations and elsewhere.

Posted on 07/11