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Thursday, May 11, 2023 11:55:48 AM
"FDIC wants big banks to shoulder cost of SVB, Signature failures
May 11, 2023 11:12 AM ETBank of America Corporation (BAC), JPM, C, WFCSIVBQ, SBNYBy: Max Gottlich, SA News Editor9 Comments
"The Federal Deposit Insurance Corporation proposed that the largest U.S. lenders should pay billions of dollars in additional fees to recover the FDIC's losses from backstopping uninsured depositors at Silicon Valley Bank (OTC:SIVBQ) and Signature Bank (OTC:SBNY), according to a Thursday release.
The FDIC estimated the moves back in March cost its Deposit Insurance Fund around $15.8B. But that figure could change as there are still assets in FDIC receivership that have yet to be liquidated."
https://seekingalpha.com/news/3970146-fdic-proposes-big-banks-to-shoulder-cost-of-svb-signature-failures
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