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That's how all FDIC insurance works. The banks pay, not the taxpayers. Don't be confused by the word "Federal" in the name, it's federally-administered and re
by throwaway-blaze 4y ago
That's how all FDIC insurance works. The banks pay, not the taxpayers. Don't be confused by the word "Federal" in the name, it's federally-administered and required by law, not paid for by the feds.
- AH4oFVbPT4f8 4y agoThat is not how I'm reading this. FDIC insurance covers the first 250k from an insurance pool all banks pay into. What I'm reading is that there will be an additional fee will be paid by other banks to make SVB depositors whole. If I'm mistaken, please tell me. "Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law."