Engineering News

FDIC says it may raise guarantee fees: report
Fri Mar 13, 6:43 am ET

(Reuters) – Federal Deposit Insurance Corp (FDIC) officials advised the largest U.S. banks on March 9 that they may be charged more for the agency's debt guarantees, Bloomberg said, citing people familiar with the matter.

FDIC officials said they plan to add a fee of 25 basis points on banks and 50 basis points on bank holding companies, the news agency said, citing their sources.

The fees would be applied as of April 1, and are meant to restock the FDIC's deposit insurance fund, it said, adding that FDIC currently charges 1 percentage point of the amount sold on debt maturing in one year under the Temporary Liquidity Guarantee Program (TLGP).

FDIC spokesman David Barr told the news agency that FDIC has "continuing discussions with the industry on TLGP, however we don't comment on any specifics of our discussions."

The FDIC could not be immediately reached by Reuters for comment.

Source: Reuters

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