FDIC imposes multi-billion dollar fees on big US banks for bank failure fund.
The Federal Deposit Insurance Corporation (FDIC) will apply a "special assessment" fee of 0.125% to the uninsured deposits of lenders in excess of $5 billion to replenish the $16 billion hit to a key deposit insurance fund caused by recent bank failures. The fee applies to all banks, but in practice, it would affect lenders with more than $50 billion in assets, which would cover over 95% of the cost. Banks with less than $5 billion in assets would not pay any fee. The levy would be collected over eight quarters beginning in June 2024.