Stimulus.org - Depository Institutions

FDIC Bank Takeovers in 2010

Jason Peuquet — Mon, 11 Jan 2010 14:27:31 +0000

Bank Takeovers in 2010

Policy Area:

Financial Sector Policy

Economic Target:

Depository Institutions

Action Type:

Bank Takeover

Maximum Amount:

79874600000

Amount Spent:

22170200000

Deficit Impact:

22170200000

This entry tracks FDIC takeovers of banks in 2010.

Source:

Federal Deposit Insurance Corporation Bank Failure List

Notes:

Although FDIC costs are counted on-budget, official estimates assume that they should eventually be offset by proceeds from the sale of liquidated assets and higher premiums for deposit insurance. Maximum amount indicates value of all bank deposits. Amount spent represents FDIC-estimated cost to deposit insurance fund.

Is not a top-level node

Fed Payment of Interest on Bank Reserves

Maya MacGuineas — Mon, 17 Aug 2009 14:12:07 +0000

Date:

October 6, 2008

Who:

Fed

Policy Area:

Financial Sector Policy

Economic Target:

Depository Institutions

Action Type:

Regulatory Change

Maximum Amount Special Symbol:

Amount Spent Special Symbol:

Federal Reserve will pay interest on depository institutions' required and excess cash reserves. Program originally slated to begin in October of 2011 was moved up to October 2008 because of the financial crisis. Objective is to compensate depository institutions for lost income they could derive by investing reserve funds elsewhere.

Source:

Federal Reserve Oct. 6 Release

Notes:

Cost of paying interest is unknown. Activities of the Federal Reserve are not directly recorded in the federal budget. However, each year the Federal Reserve remits a portion of its earnings to the general treasury. This remittance is generally in the range of $20-$30 billion per year, but the CBO estimates that the Fed's earnings will be lower by approximately $90 billion over the next ten years.

Is not a top-level node

Raise Limit on Insured Deposits: $100K to $250K

Maya MacGuineas — Mon, 17 Aug 2009 14:09:49 +0000

Date:

October 3, 2008

Who:

FDIC

Policy Area:

Financial Sector Policy

Economic Target:

Consumers

Economic Target:

Depository Institutions

Action Type:

Regulatory Change

Maximum Amount:

700000000000

Amount Spent Special Symbol:

Deficit Impact Special Symbol:

The Emergency Economic Stabilization Act of 2008 temporarily raised from $100,000 to $250,000 the amount of deposit and share insurance in FDIC and Federal Credit Union member organizations. Initially, this law stated that the increased limit on insured deposits would last until 12/31/2009. However, On 5/20/2009 President Obama signed the Helping Families Save Their Homes Act, extending the temporary deposit insurance limit of $250,000 untill 12/31/2013. After that date, the FDIC deposit insurance limit will return to $100,000 except for IRAs and other retirement accounts.

Source:

Emergency Economic Stabilization Act of 2008

FDIC Release 5/22/2009

Notes:

Limit will return to $100,000 after Dec. 31, 2013. Maximum amount indicates total value of new insured deposits.

Is not a top-level node

FDIC Bank Takeovers in 2008

Maya MacGuineas — Fri, 10 Jul 2009 19:57:53 +0000

Bank Takeovers in 2008

Policy Area:

Financial Sector Policy

Economic Target:

Depository Institutions

Action Type:

Bank Takeover

Maximum Amount:

234000000000

Amount Spent:

21740000000

Deficit Impact:

21740000000

FDIC takeovers of banks in 2008.

Source:

Federal Deposit Insurance Corporation 2008 Bank Failure List

Notes:

Although FDIC costs are counted on-budget, they should eventually be offset by proceeds from the sale of liquidated assets and higher premiums for deposit insurance. Maximum amount represents total value of deposits. Amount spent represents FDIC-estimated cost to deposit insurance fund.

Is not a top-level node

FDIC Bank Takeovers in 2009

Maya MacGuineas — Fri, 10 Jul 2009 19:55:57 +0000

Bank Takeovers in 2009

Policy Area:

Financial Sector Policy

Economic Target:

Depository Institutions

Action Type:

Bank Takeover

Maximum Amount:

125719900000

Amount Spent:

36465000000

Deficit Impact:

36465000000

FDIC takeovers of banks in 2009.

Source:

Federal Deposit Insurance Corporation 2009 Bank Failure List

Notes:

Is not a top-level node