With so many banks failing, the agency’s deposit insurance fund has been severely depleted. At the end of June, it carried a negative balance of $15.2 billion. The insurance fund is in better shape than those numbers might suggest, however.
Officials have estimated that bank failures will drain about $100 billion from the fund from 2009 through 2013. Of that amount, however, roughly $80 billion in losses were recognized last year or projected for 2010. By that math, the agency is expecting an additional $20 billion of losses over the next three years.
F.D.I.C. officials said they hoped to recoup those costs through higher premium fees paid by banks and through a special assessment imposed last September.
Officials have estimated that bank failures will drain about $100 billion from the fund from 2009 through 2013. Of that amount, however, roughly $80 billion in losses were recognized last year or projected for 2010. By that math, the agency is expecting an additional $20 billion of losses over the next three years.
F.D.I.C. officials said they hoped to recoup those costs through higher premium fees paid by banks and through a special assessment imposed last September.
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