schreef:
WASHINGTON — Acknowledging that they greatly underestimated the problems plaguing the nation’s banking system, federal officials proposed a plan on Tuesday to replenish the fund that protects bank depositors.
They also announced that the fund, which began the year with more than $34 billion on hand but has been battered by bank collapses, would fall into deficit this week.
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The plan proposed by the Federal Deposit Insurance Corporation would, in effect, have the nation’s banks collectively lend money to the insurance fund by requiring the banks to prepay this year the annual assessments that they would otherwise have been due through 2012.
If adopted, the plan would raise $45 billion from the banks to replenish the fund, which is suffering severe problems with both its capital and liquidity.
The plan proposed by the deposit insurance agency was a partial victory for industry executives and lobbyists, who fought against the idea of levying another special assessment on the banks. Last May, an additional 5 cents was collected for every $100 in deposits as a special assessment on top of the regular premiums.
The prepayment option also offers a significant bookkeeping benefit to the industry. If the plan is ultimately approved, banks will be able to list the prepayment as an asset on their books, and not charge it against earnings until the time when the payment would normally have been due.
But some bank executives expressed concern about the increase in premiums in two years.
“The premium increase in the out years was a surprise,” said Edward L. Yingling, president of the American Bankers Association. “The industry agrees that this is a better alternative to what clearly would have been several special assessments, but this prepayment will decrease the ability to lend.”
On Tuesday, the F.D.I.C. increased that loss estimate by more than 40 percent, to $100 billion in total losses — mostly over this year and next. They said that as of this week, the fund, which began the year at more than $30 billion and had about $10 billion over the summer, would now have a negative balance. Officials declined to say what that balance is, saying they are awaiting tabulations that could take another month or longer.
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Officials said that if nothing were done, the fund would also be holding almost exclusively illiquid assets by early next year. At last report, the fund had about $22 billion in cash and other marketable securities. As more banks have collapsed, most of its liquid assets have been exchanged for the less marketable assets seized from the failed institutions, like foreclosed property.