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Insured Banks Are Asked to Pay Into the Fund

WASHINGTON (CN) - To gather cash to pay for projected bank failures, the Federal Deposit Insurance Corporation plans to require federally insured banks to prepay their estimated quarterly risk-based assessments for the fourth quarter of 2009, and for all of 2010, 2011, and 2012.

The payment would be due Dec. 30.

The assessments are based on the bank's balance of insured deposits and the degree of risk the institution poses to the insurance fund.

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