FDIC Chair Martin J. Gruenberg highlighted agency initiatives to promote inclusion within the U.S. banking system.
News & Insights
The FDIC set a comment deadline of July 21, 2023 for proposed special assessments to recover losses to the Deposit Insurance Fund that resulted from the FDIC making whole all uninsured depositors of Silicon Valley Bank and Signature Bank.
The FDIC proposed imposing special assessments to recover losses to the Deposit Insurance Fund resulting from the FDIC making whole all uninsured depositors of Silicon Valley Bank and Signature Bank.
In a report titled "Options for Deposit Insurance Reform," the FDIC highlighted the limitations of the current deposit insurance system finding that the current system of "Limited Coverage" may be insufficient to prevent bank runs.
JPMorgan Chase Bank assumed all of First Republic Bank's deposits and nearly all assets, making all depositors of First Republic Bank depositors of JPMorgan Chase Bank as of Monday, May 1, 2023.