The FDIC announced that the Deposit Insurance Fund Reserve Ratio reached 1.36%, exceeding the statutorily required minimum reserve ratio of 1.35% ahead of the September 30, 2020, deadline required under the Dodd-Frank Wall Street Reform and Consumer Protection Act.
FDIC regulations provide for two changes to deposit insurance assessments upon reaching the minimum: 1) surcharges on insured depository institutions with total consolidated assets of $10 billion or more (large banks) will cease; and 2) small banks will receive assessment credits for the portion of their assessments that contributed to the growth in the reserve ratio from between 1.15% and 1.35%, to be applied when the reserve ratio is at or above 1.38%.
Large Bank Surcharges
Small Bank Credits
No Change to Assessment Rates
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