United States:
US Federal Deposit Insurance Corporation Updates Deposit Insurance Fund Figures
21 October 2016
Shearman & Sterling LLP
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On September 20, 2016, FDIC Chairman Martin Gruenberg issued a
statement on the release of updated data regarding the FDIC's
Deposit Insurance Fund. (DIF) The DIF balance stood at almost $78
billion, leading to a reserve ratio of 1.17%, an eight-year high.
Chairman Gruenberg's statement noted that the FDIC still
intends to reach the statutory minimum ratio of 1.35% set forth in
the Dodd-Frank Wall Street Reform and Consumer Protection Act,
before September 30, 2020.
The text of Chairman Gruenberg's statement is available at:
https://www.fdic.gov/news/news/speeches/spsep2016a.html.
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