ABA Statement on FDIC Review of Deposit Insurance System

“We agree with Chairman Gruenberg that today’s FDIC report on options for deposit insurance reform can serve as a useful starting point for a discussion of these important issues. It certainly will not be the last word given the need to consider input from the nation’s banks that pay for the current system through their assessments, Congress and other key stakeholders before acting on any of FDIC’s ideas.

“As the report makes clear, every potential change to the existing system has costs, benefits and operational challenges, including the FDIC’s ‘targeted coverage’ option, that must be weighed very carefully. We will evaluate the options outlined in the FDIC report and other ideas that come forward with one key test in mind: whether the proposed changes will enhance the ability of banks of all sizes to compete and succeed in serving their customers and communities. We look forward to participating in the conversations to come, informed every step of the way by our members.”