The U.S. government says bank failures in the country over the next four years will cost $19 billion in insurance payments to cover losses for depositors.

While the figure is substantial, government officials said Tuesday the projected losses are less than those predicted earlier. In 2010 alone, the government insurance fund paid out $23 billion to cover losses.

While the U.S. economy remains sluggish, bank failures have diminished, with 76 so far this year, compared to 157 last year and 140 in 2009.

With the large number of failures at the height of the recent recession, the government insurance fund was paying out more money than it had in its accounts. But the government agency increased its assessments on financially healthy banks and the fund is again showing a positive balance.

One U.S. trade group, the American Bankers Association, said its members are paying more than $13 billion annually into the insurance fund. It said that is “far in excess” of what is needed to cover losses from failed banks.