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FDIC Proposes New Assessment That Will Shift Costs To Big Banks

Tuesday, November 9, 2010 - 12:12 PM
From the FDIC press release:
In accordance with a provision in Dodd-Frank, the FDIC is proposing to change the assessment base from adjusted domestic deposits to average consolidated total assets minus average tangible equity.

As described in this Reuters article, this change would result in large banks paying more. It may also encourage large banks to attract more domestic deposits.
Bank of America, JPMorgan Chase & Co and Citigroup combined would pay about $1 billion more annually in assessments under the new system, according to industry estimates.
Ken TuminKen Tumin5,472 posts since
Nov 29, 2009
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