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Insured Deposits

All articles tagged with #insured deposits

finance2 years ago

FDIC Reports Record Drop in US Bank Deposits, Causing Banking Crisis and Stock Tumbles.

The US banking system saw a decline in total deposits in Q1 2023, even as insured deposits rose, due to withdrawals of uninsured deposits amid the banking crisis caused by the failures of three regional banks. The decline in overall deposits was driven by depositors with uninsured balances in excess of the FDIC’s $250,000 limit on insured deposits. The FDIC's Deposit Insurance Fund (DIF) saw its balance decline by $12.1 billion from the end of Q4 2022 to March 31, 2023, when it stood at $116.1 billion. The decline was due to loss provisions for actual and anticipated bank failures.

via Fox Business|
#bank-failures#fdic#finance
finance2 years ago

FDIC Proposes Billions in Fees for Big Banks After Recent Collapses.

The FDIC has proposed levying higher fees on banks with more than $5 billion in uninsured deposits to recover the $15.8 billion depleted from its Depositor Insurance Fund after the government insured depositors’ money that exceeded the $250,000 insurance cap at Silicon Valley Bank and Signature Bank. The proposed rule would charge banks 0.125% annually for two years on all their uninsured deposits as of the end of last year after deducting $5 billion. The FDIC estimates that 113 banks would be subject to the proposed fees, with banks with more than $50 billion in total assets contributing 95% of fees to replenish the DIF.

via CNN|
#banks#fdic#fees
finance2 years ago

Western Alliance Shares Recover as Deposit Outflows Stabilize

Western Alliance Bancorp's shares recovered some of their losses after the bank reported that deposit outflows have stabilized and net outflows have returned to normalized levels. The bank also noted that deposit balances grew by $900 million since March 30 and that total insured deposits now stood at 68% of total deposits, significantly higher than year-end. The bank had suffered a total of $6 billion net deposit outflows in the first quarter, concentrated in its tech and innovation as well as settlement services groups.

via CNBC|
#banking-crisis#deposit-outflows#finance