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FDIC Finalized Rule Hiking Deposit Insurance Assessment Rate

By James W. Morrissey, Daniel C. McKay, II, James M. Kane, Jennifer Durham King, Mark C. Svalina & Mary Donohue on October 25, 2022
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On October 18, 2022, the FDIC finalized a rule to increase initial base deposit insurance assessment rate schedules uniformly by 2 basis points, beginning in the first quarterly assessment period of 2023.  The stated purpose of the increase in assessment rate schedules is to “increase the likelihood that the reserve ratio of the Deposit Insurance Fund (DIF) reaches the statutory minimum of 1.35 percent by the statutory deadline of September 30, 2028.” Click here for more information on the rule.

Photo of James W. Morrissey James W. Morrissey
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Photo of Daniel C. McKay, II Daniel C. McKay, II
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Photo of James M. Kane James M. Kane
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Photo of Jennifer Durham King Jennifer Durham King
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Photo of Mark C. Svalina Mark C. Svalina
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Photo of Mary Donohue Mary Donohue
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  • Posted in:
    Financial
  • Blog:
    The 21st Century Banker
  • Organization:
    Vedder Price PC
  • Article: View Original Source

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