Archive for October 11, 2011
FDICs Deposit Insurance Fund is Back in the Black
The FDIC recently announced that after seven consecutive quarters of negative balances, the Deposit Insurance Fund is back in the black with a positive balance of $3.9 billion as of June 30, 2011. Further, the FDIC projects that total cost of FDIC-insured bank failures from 2011 through 2015 will be $19 billion, which is appoximately $4 billion less than the total cost of failures during 2010 alone.
FDIC anticipates that the DIF will be approximately 1.15% of estimated insured deposits by 2018. The Dodd-Frank Wall Street Reform and Consumer Protection Act requires the DIF reserve ratio to reach 1.35% by September 30, 2020.
