FDICs Deposit Insurance Fund is Back in the Black
October 11, 2011 at 11:07 pm Scott Smalley Leave a comment
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.
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