Fee will help the FDIC cover losses to its deposit insurance fund from backstopping depositors at Silicon Valley Bank
The U.S. Federal Deposit Insurance Corporation will take the plight of community banks into account when charging financial institutions a “special assessment fee” to cover recent losses incurred over the U.S. banking crisis, the FDIC’s head told lawmakers in a hearing on Wednesday.
Some banking groups have urged the Biden administration and the FDIC to temporarily guarantee all U.S. bank deposits, a move they say will help quell a crisis of confidence after the failure of Silicon Valley Bank and Signature Bank.
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