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A comment on Joint Statement by the Department of the Treasury, Federal Reserve, and FDIC. Parent comment

Re:Joint Statement by the Department of the Treasury, Federa... by tropicaljacket on Sunday March 12, 2023 @09:50PM (#35129666)
How does this "special assessment on banks" work? Does the FDIC charge all US banks to cover the missing amount? How are the charges distributed? And what law is this?

Also if this option was available, why did they just bring it up now?

[ Parent | on HN ]
Re:Joint Statement by the Department of the Treasury, Federa... by ec109685 on Sunday March 12, 2023 @10:35PM (#35130198)
Revenue comes from a fee banks pay based on insured deposits. It’s been around 8 cents per $100 insured: https://www.fdic.gov/analysis/quarterly-banking-profile/fdic...
[ Parent | on HN ]
Re:Joint Statement by the Department of the Treasury, Federa... by hd95489 on Sunday March 12, 2023 @10:31PM (#35130140)
Poor people will get no interest on deposits to bail out the rich.
[ Parent | on HN ]
Re:Joint Statement by the Department of the Treasury, Federa... by politician on Sunday March 12, 2023 @10:05PM (#35129849)
It’s almost certainly going to manifest as tax that will be passed on to customers in the form of lower interest rates on deposits.
[ Parent | on HN ]