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The FDIC Board of Directors
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Bank News
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May 1, 2008
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Copyright informationCopyright Bank News, Inc. May 2008. Provided by ProQuest LLC. (Hide copyright information)
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The FDIC Board of Directors has voted to keep the assessment rates charged to insured banks and savings associations for the Deposit Insurance Fund unchanged for 2008. The existing assessment rate schedule is 5 to 43 basis points per year; most institutions will be charged a rate between 5 and 7 basis points, the FDIC said.
The FDIC said this decision to leave rates unchanged this year is consistent with the board's objective to increase the reserve ratio to the Designated Reserve Ratio of 1.25 percent before the end of 2009. The fund stood at 1.22 percent of estimated insured deposits at yearend 2007, up from 1.21 percent at the end of 2006. According to FDIC staff, with expected insured ...
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