May 11, 2023

Big Banks Face Billions in Extra FDIC Fees After SVB Failure

Posted by in categories: business, finance, government

The costs used to recover the deposits for the failed US regional banks will be paid by other US banks especially the larger banks.

The largest US lenders face billions of dollars in extra fees to replenish the government’s bedrock deposit insurance fund. The move comes after the fund was tapped to backstop uninsured depositors at Silicon Valley Bank and Signature Bank. Su Keenan reports on Bloomberg Television.

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