When autocomplete results are available use up and down arrows to review and enter to select.
ICBA is calling on community bankers to submit personalized comments to the FDIC opposing its proposal to raise deposit insurance assessment rates by 2 basis points on all insured institutions.
Grassroots Resources: To help community bankers submit unique comments by the deadline—which is this Friday, Aug. 19—ICBA offers an online guide on developing, formatting, and submitting comments.
Background: Due to economic stimulus measures enacted in response to the pandemic, deposit growth is outpacing Deposit Insurance Fund growth, causing the DIF reserve ratio to decline below the required 1.35% minimum.
Proposal: While the FDIC’s proposed 2-point increase is designed to increase the likelihood that the DIF reserve ratio reaches the statutory minimum of 1.35% by the September 2028 deadline set forth under the current restoration plan, the rate increase would begin in 2023 and remain in effect until the reserve ratio reaches 2%.
Key Concerns: Using ICBA’s comment guide, community bankers can discuss the negative impact of a prolonged 2-basis-point assessment increase and why the FDIC should avoid penalizing community banks for supporting their communities during the pandemic. Submit comments.