FDIC Proposes Special Deposit Insurance Assessment After Systemic Risk Exception

May 11, 2023

The Federal Deposit Insurance Corporation (“FDIC”) Board voted (3-2) to propose a special assessment to recoup the expected $15.8 billion cost to the Deposit Insurance Fund “(DIF”) in the wake of invocation of the special risk exception (“SRE”) to cover all deposits at Silicon Valley Bank and Signature Bank in March. The Notice of Proposed Rulemaking (“NPR”) will be subject to comment for 60 days from publication in the Federal Register.

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