The FDIC announced a proposed special assessment on large banks that would recoup the $15.8 billion pulled from an insurance fund following the failures of Silicon Valley Bank and Signature Bank.
Freedom Capital Markets chief global strategist Jay Woods tells ‘Cavuto: Coast to Coast’ that if the banks stabilize, the ‘rebound’ can be quick as stocks fall on renewed bank worries.on Thursday proposed a special assessment of the largest U.S. banks to recover the funds used to protect uninsured depositors who otherwise would’ve been left holding the bag following the failures of Silicon Valley Bank and Signature Bank.
The FDIC estimates that about 113 banks will be subject to the fee and that banks with more than $50 billion in total assets will pay about 95% of the special assessment, while those with less than $5 billion will be exempt.
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