Friday, senior Federal Deposit Insurance Corporation officials held a roundtable “Forum for Discussion of Views on the Implementation of the New Deposit Insurance Assessment Authority” with a number of government officials and industry executives, representing both large and small financial institutions. The roundtable opened with an FDIC staff presentation regarding the FDIC’s Deposit Insurance Fund (DIF) management and pricing system, the new deposit insurance assessment authority granted to the FDIC under the Dodd Street Consumer and Consumer Protection Act , and the agency’s management goals for the deposit insurance fund, how those goals can best be achieved given the new authority and how these goals could change based on the economic environment. The discussion focused on those policy goals and policy trade-offs, including concerns about the new assessment authority’s possible affects on the different sized institutions within the industry in both the short term and the long term.
The meeting included industry participants from the American Bankers Association, Bank of America, First Citizens Bank and Trust, First United Corporation, Independent Community Bankers of America, Pendleton Community Bank, The Peoples Bank Co., Pioneer Bank and Regions Bank.
Government participants included all five FDIC board members – FDIC Chairman Sheila Blair, FDIC Vice Chairman Martin Gruenberg, Acting Comptroller of the Currency John Walsh, Office of Thrift Supervision Acting Director John Bowman, and FDIC Director Thomas Curry, and North Carolina Commissioner of Banks Joseph Smith, the immediate past chair of the Conference of State Bank Supervisors.