U.S. banking regulators approved a plan on Nov. 9 to change how banks pay for deposit insurance, writes the Dow Jones newswires.

The Dodd-Frank financial overhaul law directs the FDIC to change its current formula. The FDIC currently charges banks quarterly fees based on the total domestic deposits. The FDIC is proposing to base the fees on a measure of banks’ assets, which would favor smaller banks.

The plan calls for banks with $10 billion or more in assets to pay 80 percent of the total insurance funds fees, up from 70 percent. Banks with more than $100 billion in assets would shoulder most of that increase.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.