FDIC considers requiring big banks to cover $23B loss from Silicon Valley Bank collapse.
The FDIC is considering a "special assessment" in May to force larger banks, including JPMorgan Chase, Wells Fargo, Bank of America, and Citigroup, to pay more in insurance premiums to cover the $23 billion bill incurred for backstopping depositors who put money in accounts at failed regional lenders Silicon Valley Bank and Signature Bank of New York. The Biden administration has pledged that taxpayers would not bear the direct cost for the failure of the two banks, but other banks may have to help defray the cost of covering uninsured deposits.