The FDIC's fund for insuring banks will have to pay out $19 billion because of bank losses over the next five years, a decline from the original estimate of $23 billion, the agency said last week.
"The assessment that the insurance fund remains on the path to recovery and on track to meet the goals established by Congress is welcome news," FDIC Acting Chairman Martin J. Gruenberg said in a statement. "As we seek to stay on track, it's important to always be mindful of the challenges we face and ongoing risks to the insurance fund."
On June 30 the fund had a positive balance after being in the red for seven consecutive quarters.
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