FDIC imposes multi-billion dollar fees on big US banks for bank failure fund.
TL;DR
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.
Topics:businessfinance#deposit-insurance#fdic#finance#special-assessment-fee#uninsured-deposits#us-banks
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