Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Inside Washington (02/27/2009)
* WASHINGTON (3/2/08)—The Federal Deposit Insurance Corporation (FDIC) voted Friday to amend the restoration plan for the Deposit Insurance Fund (DIF). The agency, in a release, said under a restoration plan approved last October, the agency set a rate schedule to raise the DIF reserve ratio to 1.15% within five years. Friday’s action extends the restoration plan horizon to seven years in recognition of the “current significant strains on banks and the financial system and the likelihood of a severe recession.” The amended restoration plan was accompanied by a final rule that sets assessment rates and makes adjustments that improve how the assessment system differentiates for risk. Currently, most banks are in the best risk category and pay anywhere from 12 cents per $100 of deposits to 14 cents per $100 for insurance. Under the final rule, banks in this category will pay initial base rates ranging from 12 cents per $100 to 16 cents per $100 on an annual basis, beginning on April 1. The FDIC also adopted an interim rule imposing a 20 basis point emergency special assessment on the industry on June 30. The assessment is to be collected on Sept. 30… * WASHINGTON (3/2/08)—Daniel Tarullo was formally sworn in as a member of the Board of Governors of the Federal Reserve System at a ceremony Friday in the atrium of the Fed’s main building here. Federal Reserve Chairman Ben Bernanke presided over the ceremony. Tarullo assumed his position on Jan, 28, following his confirmation by the U.S. Senate the previous day. His term expires Jan. 31, 2022…


RSS





print
News Now LiveWire
.@nytimes reports Sen. Harry Reid, Senate Democratic leader since 2005, will not seek re-election next year,
1 hour ago
Cornerstone CU Union Foundation says it's prepared to assist #CUs & their employees affected by severe storms in Arkansas and Oklahoma.
11 hours ago
In 2014,use of remote deposit capture experienced 13% increase to 51%. But checking a balance continued to B the most common mobile activity
11 hours ago
'Fixing Your Finances' part of @PCUA's #iBelong campaign http://t.co/7j6HO1njog @fox43 @Bellco_CU @Members1stFCU
15 hours ago
Home prices outpacing income growth in 3/4 of U.S. markets @RealtyTrac http://t.co/BQR1w4k822
17 hours ago