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I've not seen any reporting or anything in the announcement that indicated an increase in fees for the FDIC insurance fund would be necessary, but I absolutely
by BaseballPhysics 4y ago
I've not seen any reporting or anything in the announcement that indicated an increase in fees for the FDIC insurance fund would be necessary, but I absolutely admit I may have missed that detail. Do you have a reference for this claim?
- dyno12345 4y ago"Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law." https://www.fdic.gov/news/press-releases/2023/pr23019.html https://www.fdic.gov/news/press-releases/2023/pr23019.html
- BaseballPhysics 4y agoThank you!
- voxic11 4y ago> Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law. https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312b.htm https://www.federalreserve.gov/newsevents/pressreleases/mone...
- BaseballPhysics 4y agoAhh, yup, I absolutely missed that when I read the announcement. Thank you! It's worth noting it's still unclear if that'll be necessary (it all depends on the level of recovery they can get out of SVB's assets), but the potential is there, and it's hard to deny that, if that is necessary, those costs will ultimately be born by everyone as the banks pass those costs along.