The FDIC Assessed $16 Billion to Banks For Last Year's Banking Failures: Here's How Much the Big Banks Are Paying

Less than a year ago, turmoil at a few banks resulted in some of the largest bank failures on record. Failures at Silicon Valley Bank (a subsidiary of SVB Financial) and First Republic Bank called for government intervention, including unprecedented action by the Federal Deposit Insurance Corporation (FDIC).Over 100 financial institutions will shoulder the bailout cost as the FDIC imposes a special assessment to replenish the Deposit Insurance Fund. The total cost is $16.3 billion, with larger banks paying ...