Comment Deadline Set for FDIC Proposal to Increase Deposit Insurance Assessment Rates

Comments on an FDIC proposal to increase deposit insurance assessment rates by two basis points are due by August 20, 2022. The proposed rule was published in the Federal Register.

As previously covered, the proposed increase is intended to:

• increase assessment revenue in order to build the fund used to pay deposit insurance in the event of failure of an insured depository institution; and

• restore the reserve ratio to the statutory minimum of 1.35 percent by the deadline of September 30, 2028.