July 24, 2016 7:53 AM ET

Diversified Financial Services

Company Overview of Federal Deposit Insurance Corporation

Company Overview

Federal Deposit Insurance Corporation is a United States federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000. The FDIC provides coverage for deposits in national banks, in state banks that are members of the Federal Reserve System, and in other qualified state banks. Federal Deposit Insurance Corporation also supervises the Savings Association Insurance Fund, the agency that was created to provide coverage for savings and loan associations. The institution was founded in 1933 and is headquartered in Washington, District Of Columbia. It has regional offices all over the United States.

550 17th Street, NW

Washington, DC 20429-0002

United States

Founded in 1933

Phone:

202-393-8400

Fax:

202-898-3772

Key Executives for Federal Deposit Insurance Corporation

Deputy to the Chairman and Chief Financial Officer
Chief Operating Officer
Chief Risk officer
Chief Learning Officer and Director of Corporate University
Head of Legislative Affairs
Compensation as of Fiscal Year 2016.

Federal Deposit Insurance Corporation Key Developments

Pinnacle Financial Partners Obtains Regulatory Approvals to Acquire Avenue Financial Holdings

Pinnacle Financial Partners, Inc. announced that it has received approvals of its applications to merge with Avenue Financial Holdings, Inc. from both the Tennessee Department of Financial Institutions (TDFI) and the Federal Deposit Insurance Corporation (FDIC). The TDFI and FDIC have also approved the proposed merger of Pinnacle Bank and Avenue Bank. With receipt of these approvals, all regulatory approvals required for consummation of the proposed mergers have been received. Subject to approval by Avenue’s shareholders, as well as satisfaction of other closing conditions, Pinnacle anticipates that the merger of the holding companies and banks should become effective late in the second quarter or early in the third quarter of 2016.

Federal Deposit Insurance Corporation Presents at 17th Annual US Real Estate Opportunity & Private Funds Investing Forum 2016, Jun-13-2016 08:30 AM

Federal Deposit Insurance Corporation Presents at 17th Annual US Real Estate Opportunity & Private Funds Investing Forum 2016, Jun-13-2016 08:30 AM. Venue: New York, United States. Speakers: Norman Gertner, Regional Economist.

Federal Deposit Insurance Corporation Adopts Final Rule to Increase Deposit Insurance Fund to Statutorily Required Level

The board of directors of the Federal Deposit Insurance Corporation (FDIC) approved a final rule to increase the Deposit Insurance Fund (DIF) to the statutorily required minimum level of 1.35%. Congress in the Dodd-Frank Wall Street Reform and Consumer Protection Act increased the minimum for the DIF reserve ratio, the ratio of the amount in the fund to insured deposits, from 1.15% to 1.35% and required that the ratio reach that level by September 30, 2020. Further, the Dodd-Frank Act also made banks with $10 billion or more in total assets responsible for the increase from 1.15% to 1.35%. Under a rule adopted by the FDIC in 2011, regular assessment rates for all banks will decline when the reserve ratio reaches 1.15%, which the FDIC expects will occur in the first half of 2016. Banks with total assets of less than $10 billion will have substantially lower assessment rates under the 2011 rule. The final rule approved will impose on banks with at least $10 billion in assets a surcharge of 4.5 cents per $100 of their assessment base, after making certain adjustments. The FDIC expects the reserve ratio will likely reach 1.35% after approximately two years of payments of the surcharges. The final rule will become effective on July 1. If the reserve ratio reaches 1.15% before that date, surcharges will begin July 1. If the reserve ratio has not reached 1.15% by that date, surcharges will begin the first quarter after the reserve ratio reaches 1.15%.

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