Joint Trades Statement on FDIC Assessment Rate Increase Decision

Washington, D.C. – The Consumer Bankers Association, American Bankers Association, Bank Policy Institute, Independent Community Bankers of America and Mid-Size Bank Coalition of America today issued the following statement on the FDIC’s decision to increase assessment rates:

“We are disappointed that the FDIC has chosen to increase assessment rates based on assumptions that are demonstrably incorrect. The latest data indicates that the deposit insurance fund will likely return to its statutory minimum level next year and that banks are in excellent financial condition, so the FDIC’s action is a preemptive strike against a nonexistent threat. This significant, unjustified rate increase could exacerbate the stress of a slowing economy, instead of enabling resilient banks to support economic growth.”