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The Fed is saying it will be funded by the banks remaining assets and the "banking system" which assumes higher FDIC premiums, which the banks will likely trans
by boh 4y ago
The Fed is saying it will be funded by the banks remaining assets and the "banking system" which assumes higher FDIC premiums, which the banks will likely transfer to customer as additional fees. The taxpayer is definitely paying for it (just with extra steps).
- mulmen 4y agoBy that definition literally everything is taxpayer funded and thus taxpayer funded is a meaningless term.
- op00to 4y agoNot higher fees. The FDIC will use a special assessment like they did in 2009. This special assessment was 5 basis points last time. 5 cents on $100. Hardly a major expense to pass on. Banks are highly competitive and those that do pass on the assessment will lose customers to those who eat the 5 basis points.