Response to Questions Relating to H.R. 3717, Federal Deposit Insurance Reform Act of 2002

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Correspondence issued by the General Accounting Office with an abstract that begins "The Federal Deposit Insurance Reform Act of 2002 would change the definition of the reserve ratio for the deposit insurance fund and provide the Federal Deposit Insurance Corporation (FDIC) with the flexibility to set the fund's designated reserve ratio within a range. Current law requires FDIC to maintain the deposit insurance fund balances at a reserve ratio of at least 1.25 percent of estimated insurance deposits. If the reserve ratio falls below that level, FDIC's Board of Directors must set semiannual assessment rates that are sufficient to increase … continued below

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United States. General Accounting Office. April 16, 2002.

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Correspondence issued by the General Accounting Office with an abstract that begins "The Federal Deposit Insurance Reform Act of 2002 would change the definition of the reserve ratio for the deposit insurance fund and provide the Federal Deposit Insurance Corporation (FDIC) with the flexibility to set the fund's designated reserve ratio within a range. Current law requires FDIC to maintain the deposit insurance fund balances at a reserve ratio of at least 1.25 percent of estimated insurance deposits. If the reserve ratio falls below that level, FDIC's Board of Directors must set semiannual assessment rates that are sufficient to increase the reserve ratio to the designated reserve ratio within a year, or in accordance with a recapitalization schedule of 15 years or less."

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Government Accountability Office Reports

The U.S. Government Accountability Office (GAO) is an independent, nonpartisan agency that works for the U.S. Congress investigating how the federal government spends taxpayers' money. Its goal is to increase accountability and improve the performance of the federal government. The Government Accountability Office Reports Collection consists of over 13,000 documents on a variety of topics ranging from fiscal issues to international affairs.

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  • April 16, 2002

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  • June 12, 2014, 7:50 p.m.

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Thumbnail image of item number 1 in: 'Response to Questions Relating to H.R. 3717, Federal Deposit Insurance Reform Act of 2002'.
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United States. General Accounting Office. Response to Questions Relating to H.R. 3717, Federal Deposit Insurance Reform Act of 2002, text, April 16, 2002; Washington D.C.. (https://digital.library.unt.edu/ark:/67531/metadc301166/: accessed April 16, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; crediting UNT Libraries Government Documents Department.

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