National News

FDIC proposes DIF long term recapitalization plan

The FDIC has proposed a long-term plan for the Deposit Insurance Fund, designed to ensure the fund’s coverage ratio reaches 1.35 percent by Sept. 30, 2020, as mandated by the Dodd-Frank Act. The plan is based on the premise that a coverage ratio of 2 percent must be maintained for it to have sufficient funds to cover losses during an economic downturn. Average assessment rates need to be about 8.5 percent for the fund to achieve such a coverage level. The plan . . .

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