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FDIC Board of Directors Releases Semiannual Update on Restoration Plan

News Financial services English Reports
Date: 25th Apr, 2024 Source: Federal Deposit Insurance Corporation Country: USA Original Source

Brief

Summary

The Federal Deposit Insurance Corporation (FDIC) released its first semiannual update on the Restoration Plan for the Deposit Insurance Fund (DIF) for 2024. The plan aims to restore the reserve ratio to at least 1.35% by September 30, 2028. As of December 31, 2023, the reserve ratio is on track to reach the statutory minimum, with a projected ratio of 1.15% from 1.11% as of June 30, 2023. The FDIC's Chairman, Martin J. Gruenberg, emphasized that this achievement will strengthen the DIF, enabling it to better withstand unexpected losses and reduce the likelihood of assessment increases. The plan was established in September 2020 and has been amended twice, with the latest changes implemented in 2023.

About The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the Congress to maintain stability and public confidence in the nation’s financial system. Learn about the FDIC’s mission, leadership, history, career opportunities, and more. Learn More About the FDIC ,Resources The FDIC provides a wealth of resources for consumers, bankers, analysts, and

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About The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the Congress to maintain stability and public confidence in the nation’s financial system. Learn about the FDIC’s mission, leadership, history, career opportunities, and more. Learn More About the FDIC ,Resources The FDIC provides a wealth of resources for consumers, bankers, analysts, and

This content is restricted.

Federal Deposit Insurance Corporation

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