The FDIC might make big banks fill the $23 billion hole left by its rescue of SVB and Signature Bank
The cost of the bank failures has piled up because the FDIC, the US Treasury, and the Federal Reserve said. The FDIC usually guarantees coverage for up to $250,000 per account.
A spokesperson for the FDIC on Thursday declined to comment on the Bloomberg report and instead pointed Insider to remarks made Wednesday"Under the FDI Act, the loss to the [Deposit Insurance Fund] arising from the use of a systemic risk exception must be recovered from one or more special assessments on insured depository institutions, depository institution holding companies, or both, as the FDIC determines to be appropriate," he said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
See Paul Newman’s Rolex Watches That Fetched Over $23 Million at AuctionTwo of late actor and race-car driver Paul Newman’s watches are likely to fetch more than a million dollars each when they come up for auction at Sotheby’s. See these timepieces and two others that were previously auctioned.
Read more »
FDIC Gives Deadline Next Week for Crypto Depositors Stranded by Signature FailureThe Federal Deposit Insurance Corp. (FDIC) is trying to hurry the stranded crypto customers out the door of the temporary entity that holds the assets of the former Signature Bank, asking them to cash out by next week – whether they have a new bank or not.
Read more »
No regulation or law can fix incompetent bank management, former FDIC chief saysOPINION: I have been a CEO of a troubled community bank, a board member of a large bank, and the nation’s top banking regulator. Here are the traits and culture of successful banks I have seen.
Read more »
U.S. FDIC tells Signature Bank's crypto clients to close accounts by April 5The U.S. Federal Deposit Insurance Corp (FDIC) has informed collapsed lender Signature Bank's crypto clients that they have until April 5 to close their accounts and move their money.
Read more »
FDIC hires Newmark Group to sell billions of Signature Bank debt - sourceThe Federal Deposit Insurance Corp (FDIC) has hired Newmark Group Inc to sell about $60 billion of failed lender Signature Bank's loans, a person familiar with the matter told Reuters on Wednesday.
Read more »
FDIC gives Signature’s crypto clients account deadlineCustomers who had crypto deposits at Signature Bank have been issued a deadline to close the accounts and move their money.
Read more »