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Not exactly taxpayer funded: https://www.fdic.gov/resources/deposit-insurance/deposit-insurance-fund/ https://www.fdic.gov/resources/deposit-insurance/deposit-i
by ipython 4y ago
Not exactly taxpayer funded: https://www.fdic.gov/resources/deposit-insurance/deposit-insurance-fund/ https://www.fdic.gov/resources/deposit-insurance/deposit-ins...
> The DIF is funded mainly through quarterly assessments on insured banks. A bank's assessment is calculated by multiplying its assessment rate by its assessment base. A bank's assessment base and assessment rate are determined and paid each quarter.
- CharlieDigital 4y agoNot sure if that's going to cover the haircut that depositors are going to take with respect to the difference in SBC's asset values at liquidation. There is surely going to be some gap and the question is should the taxpayers be on the hook for that gap to make the depositors whole.