ICBA Backs Plan for Assessment Credits

Oct 01, 2019
ICBA expressed support for an FDIC proposal to suspend community bank credits to deposit-insurance assessments only if the Deposit Insurance Fund reserve ratio falls below 1.35 percent, rather than 1.38 percent.

In a comment letter, ICBA said it also supports the FDIC’s idea of fully remitting any remaining credits after eight quarterly assessment periods.

The FDIC recently announced that roughly $764 million in assessment credits are headed to community banks with assets under $10 billion. In a recent Main Street Matters post, ICBA's Chris Cole details the long-awaited assessments, which were triggered when the DIF reserve ratio surpassed 1.38 percent.