The Federal Deposit Insurance Corp moved on Thursday to refill its fund protecting consumers’ deposits, finalising a plan to raise $45bn by having banks prepay three years of premiums, reports the WSJ. The agency’s five-member board gave final approval to a multistep programme that will require US banks to prepay their quarterly assessments for 2010 through 2012 when they pay their fourth-quarter premiums at the end of 2009. Additionally, banks will see an increase in their premium rates from 2011.
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