The Federal Deposit Insurance Corp plans to shift the burden of resolving the financial crisis by charging banks fees based on their assets instead of their domestic deposits, a source familiar with the situation told Reuters on Monday.
The proposal must still be approved. The FDIC has previously said that it will charge a one-time fee in the third quarter to replenish the regulator’s insurance fund.
The FDIC will seek to charge banks between 0.5 or 0.6 percentage points of their assets instead of the originally proposed 0.2 percentage point, the source said, speaking on condition of anonymity because the talks are private.
The fee would have originally brought in $15 billion from the banking industry, the report noted. The FDIC fund fell by half to $18.9 billion in expectation of actual and expected bank failures.