FDIC proposes big banks pay for tech and bank failures.
The FDIC has proposed a special assessment fee on larger banks to recover the funds used to protect uninsured depositors who would have been left with nothing following the failures of Silicon Valley Bank and Signature Bank. The proposed fee of 0.125% on insured deposits at banks with $5 billion in assets or more would remain in effect for eight quarterly assessment periods starting in the first quarter of 2024. The FDIC estimates that about 113 banks will be subject to the fee, and banks with more than $50 billion in total assets will pay about 95% of the special assessment, while those with less than $5 billion will be exempt.