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Press Release
FDIC Releases Semiannual Update on the Deposit Insurance Fund Restoration Plan

For Release

WASHINGTON – The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today released its semiannual update on the Restoration Plan for the agency’s Deposit Insurance Fund (the Fund).

FDIC Chairman Martin J. Gruenberg said, “The bottom line to today’s update is that even with increased uncertainty in the banking industry and the recent failure of two large banks, staff project that the losses from the two failures are not expected to have a material effect on the projected timeline for reaching the statutory minimum reserve ratio of 1.35 percent. The reserve ratio is expected to reach the minimum ahead of the statutory deadline of September 30, 2028, and staff recommend no changes to the Amended Restoration Plan at this time.”

The FDIC estimates that the two recent failures of Silicon Valley Bank and Signature Bank resulted in losses of approximately $22.5 billion, of which $19.2 billion is attributable to the protection of uninsured depositors under the Systemic Risk Exception . Federal law requires that any losses to the FDIC’s Deposit Insurance Fund related to this action be repaid by a special assessment on banks. Only the remaining $3.3 billion in losses will directly impact the DIF balance and is not expected to have a material effect on the projected timeline for reaching the statutory minimum reserve ratio.


The Federal Deposit Insurance Act (FDI Act) requires that the FDIC’s Board of Directors adopt a restoration plan when the Fund’s reserves fall below 1.35 percent of all insured deposits held in FDIC-insured financial institutions. Extraordinary deposit growth during the first and second quarters of 2020 caused the Fund’s reserve ratio to decline below this statutory minimum. On September 15, 2020, the FDIC established a plan to restore the Fund’s reserves to at least 1.35 percent by September 30, 2028, while maintaining the assessment rate schedule in place at the time.

On June 21, 2022, the FDIC Board of Directors approved an amendment to the agency’s Restoration Plan and proposed to increase deposit insurance assessment rates by two basis points for all insured depository institutions. On October 18, 2022, the FDIC Board adopted a final rule to increase initial base deposit insurance assessment rate schedules by two basis points beginning in the first quarterly assessment period of 2023.

Last Updated: April 18, 2023