National News

FDIC votes to raise deposit insurance rates

The FDIC board of directors voted to raise deposit insurance rates by 7 basis points, effective Jan. 1. Banks that paid 5 to 43 basis points on their deposits at the end of 2008 will pay 12 to 50 basis points on their first quarter assessments. The FDIC noted that most institutions will be charged between 12 and 14 basis points. The rate increase is part of a plan proposed last October to help FDIC replenish the Deposit Insurance Fund, which was depleted by more than . . .

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