Big banks in the United States will bear billions of dollars in extra fees to replenish a deposit insurance fund that was used to bail out banks in March, the Federal Deposit Insurance Corporation (FDIC) said on Thursday.
The recent collapse of Silicon Valley Bank (SVB) and Signature Bank impacted the deposit insurance fund (DIF) for a total of $15.8 billion because the government insured depositors’ money that exceeded the $250,000 insurance cap to stem the panic from these banks’ failures.
