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Bank and Thrift Deposit Insurance Premiums: The Record from 1934 to 2004

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Since federal deposit insurance first came into being in the mid-1930s, commercial banks and savings associations (thrifts) have paid premiums into government insurance reserves to cover losses due to financial institution failures. We illustrate this history in three tables showing scheduled and effective deposit insurance premiums each year since 1934. Through most of that time, thrifts have paid higher premiums than banks, reflecting in part their different nature. Thrifts, for example, could not offer checking accounts until the 1980s, and were largely restricted to home mortgage lending so that competition with banks was muted. Banks and thrifts have come to offer similar services and the government has standardized insurance premiums for the two institutions to reflect their competition. Deposit insurance premiums have been the subject of legislation several times over recent years including measures passed by the House. Most banks and thrifts pay essentially no premiums, but the potential for future assessments continues to drive "reform" legislation. This report provides the rationale and amounts of assessments since federal deposit insurance began and will be updated annually.


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