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ABA: The American Bankers Association
Issue

Deposit Insurance Assessment Credits from the FDIC

Banks keep America's deposits secure

ABA Position

For banks under $10 billion, $754 million of credits have been applied against assessments over the prior four quarters. The remaining $5 million of credits will be returned to banks with credit balances to offset second quarter 2020 assessments (to be billed and paid in September) and any residual balances paid out by check. Had the FDIC not adopted ABA’s recommendation to truncate the payout period, the $5 million would be retained by the FDIC because the reserve ratio of its insurance fund declined below 1.35 percent in June.

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Robert Strand

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