WASHINGTON -- Deposit insurance premiums could be cut in 1998, four years earlier than previously expected, according to new projections by the Federal Deposit Insurance Corp. staff.

An internal document, obtained by the American Banker, forecasts the average bank premium will fall by 15%, to 21 cents for every $ 100 of deposits, in 1998. The rate would plunge another 48%, to 11 cents, the next year. The current average is 24.6 cents.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.