PREMIUM CUT: June 30 came and went without any action on the FDIC's proposal to reduce bank insurance rates by 83%. By yearend, premiums are expected to range from 4 cents to 31 cents per $100 of domestic deposits, depending on how much risk a bank poses to the Bank Insurance Fund.
The agency also proposes retaining the current deposit insurance rates for thrifts, which range from 23 cents to 31 cents. Published Feb. 16; comments were due April 17. Action had been expected in May, then by the end of June. But the agency appears to be holding off a final vote on premiums while the Clinton administration works on a broader plan to shore up the thrift insurance fund.