FDIC Proposed Rule Would Require Banks to Prepay Quarterly Risk Assessments Through 2012
A rule proposed today by the the Board of Directors of the Federal Deposit Insurance Corporation ("FDIC") would require banks to prepay their estimated quarterly risk-based assessments beginning with the fourth quarter of 2009 through 2012. The prepaid assessments would total approximately $45 billion, according to today's press release. Additionally, the FDIC voted to adopt an increase in the assessment rate starting January 1, 2001 by a uniform three-basis points. Today's proposed rule is designed to bolster the Deposit Insurance Fund.
Click here for today's press release, click here for the FDIC's Notice of Proposed Rulemaking, and click here for the Deposit Insurance Fund Restoration Plan.
