National News

DIF back in the black

The Deposit Insurance Fund balance returned to the black during the second quarter, Acting FDIC Chairman Martin Gruenberg said in Senate testimony July 26. The fund went negative in third quarter 2009. At the end of 2009, the fund hit a low point of negative $20.8 billion. That was also the year the FDIC required banks to prepay three years of premiums, totaling $45.7 billion. With the pace of bank closings slowing, the FDIC is recapturing funds it previously had set aside for projected future losses. Since second . . .

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