For the quarter ending Dec. 31, the nation’s top six banks reported charges totaling $9.4 billion related to the Federal Deposit Insurance Corp.’s special assessment aimed at replenishing the agency’s deposit insurance fund after several bank failures last year.
The fund was drained of roughly $16.3 billion after the agency agreed to backstop the uninsured deposits of Silicon Valley Bank and Signature Bank after bank runs led to their collapses last March.
The agency announced in November that the largest banks would pay the majority of the fee. Lenders with less than $5 billion in assets are excluded from paying the special assessment.
