Surcharge Planned on Major Banks to Boost FDIC Deposit Insurance Fund
The FDIC has proposed a surcharge on the quarterly assessments of insured depository institutions with total consolidated assets of $10 billion or more aimed at increasing the Deposit Insurance Fund (DIF or fund) to 1.35%. The surcharge is expected to launch in 2016 and end by 2018 and will give surcharged FIs a credit that can be applied against future charges when the DIF exceeds 1.40. [11/6/15]