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FDIC Deposit Insurance Fund restoration plan
FDIC FIL-90-2020, released yesterday, reports the FDIC Board has voted to adopt a Restoration Plan to restore the Deposit Insurance Fund reserve ratio to at least 1.35 percent within 8 years, as required by the Federal Deposit Insurance Act. Under the Restoration Plan, the FDIC will:
- monitor deposit balance trends, potential losses, and other factors that affect the reserve ratio;
- maintain the current schedule of assessment rates for all insured depository institutions; and
- provide updates to its loss and income projections at least semiannually.
Publication update: 85 FR 59306 in the September 21, 2020, Federal Register.