Refinitiv Newscasts - U.S. Day Ahead: Big US lenders will pay billions to replenish the bank backstop fund

Pfizer

11/05/2023 21:00

Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_npx1gy23&referenceId=1_npx1gy23&pageId=RefinitivNewscasts
Source: Reuters

Description: The Federal Deposit Insurance Corporation has announced 113 of
the largest U.S. lenders will bear the cost of replenishing the $16 billion
hit to a key deposit insurance fund caused by recent bank failures. The bank
regulator will apply a "special assessment" fee of 0.125% to the uninsured
deposits of lenders in excess of $5 billion, based on the amount of uninsured
deposits a bank held at the end of 2022.
Short Link: https://refini.tv/3I2c13Z

Video Transcript:

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