Banks Face Extra $4.1 Billion FDIC Bill for Last Year’s Failures
- Fees to rebuild deposit insurance fund rise 25% from forecast
- It’s costing more than expected to clean up 2023’s turmoil
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A year after Silicon Valley Bank’s collapse, US lenders are still paying the price for cleaning up the mess — and it’s likely to get about $4.1 billion worse.
The Federal Deposit Insurance Corp. now estimates $20.4 billion in losses arising from the failure of both SVB and New York-based Signature Bank, according to its annual report released late February. That’s a 25% bump from its $16.3 billion November estimate.