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ABA: The American Bankers Association
Statement

ABA Statement on Deposit Insurance Fund Restoration Plan

"We commend the FDIC for its commitment to safety and soundness and its strong stewardship of the Deposit Insurance Fund, which protects customer deposits and is at its highest level on record. By maintaining the current assessment schedules, the FDIC recognizes that the recent unprecedented surge in deposits has been due to the extraordinary federal assistance in response to the global pandemic and customers seeking the safest place to keep their money. We agree with the FDIC that the decline in the fund’s reserve ratio is likely transitory and support its plan to continue to closely monitor the fund’s progress going forward."

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About the American Bankers Association

The American Bankers Association is the voice of the nation’s $21.1 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $17 trillion in deposits and extend nearly $11 trillion in loans.

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Mike Townsend

(202) 663-5471

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