Decision Due on Bank Insurance Hike: The...
From Times Staff and Wire Reports
Decision Due on Bank Insurance Hike: The Federal Deposit Insurance Corp. will decide later this month whether to raise banks’ premiums to beef up the agency’s dwindling insurance fund, an FDIC spokesman said. The agency’s chairman, L. William Seidman, told Congress this week that the premiums might have to rise to as much as 25.5 cents per $100 of insured deposits from the current 19.5 cents. Any increase would come on the heels of a January rise in premiums. That jump was to 19.5 cents from 12 cents for each $100 insured.
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