The board of directors of the Federal Deposit Insurance Corp (FDIC) will meet on Thursday to consider special assessment fees for banks to cover losses arising from the collapse of Silicon Valley Bank and Signature Bank in March, the agency tweeted.
The FDIC's deposit insurance fund guarantees customers' bank deposits of up to $250,000. The collapse of the two lenders in March cost the agency an estimated $22.5 billion.
Earlier this month, First Republic Bank became the third U.S. lender to fail in less than two months, leading to a $13 billion hit to the insurance fund, according to FDIC's initial estimate.
Some have called for the Biden administration and the FDIC to temporarily guarantee all U.S. bank deposits to reassure frightened depositors and put an end to the crisis.
(Reporting by Niket Nishant in Bengaluru; Editing by Anil D'Silva)
