FDIC Board of Directors Issues an Interim Final Rule to Amend the Collection of the Special Assessment
WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved an interim final rule to amend the collection of the special assessment to recover losses to the Deposit Insurance Fund (DIF) arising from the systemic risk determination announced on March 12, 2023 following the closures of Silicon Valley Bank and Signature Bank, as required by the Federal Deposit Insurance Act. The final rule ensures the FDIC will collect the correct amount through the special assessment, equal to the total losses attributable to the systemic risk exception, without overcollecting or undercollecting.
The FDIC estimates the total cost of the failures of Silicon Valley Bank and Signature Bank that must be recovered through the special assessment is approximately $16.7 billion as of September 30, 2025. Estimated losses are periodically adjusted as the FDIC, as receiver of the failed banks, sells assets, satisfies liabilities, and incurs receivership expenses.
The interim final rule reduces the rate at which the special assessment will be collected in the eighth collection quarter, with an invoice payment date of March 30, 2026, to ensure that the cumulative amount collected through the eighth collection quarter will be approximately equal to the loss estimate as of September 30, 2025, and will enable the FDIC to avoid collecting amounts in excess of that loss estimate.
The interim final rule also requires the FDIC to provide an offset to regular quarterly deposit insurance assessments for banks subject to the special assessment if the aggregate amount collected exceeds losses following the resolution of litigation between the FDIC and SVB Financial Trust. This litigation is the largest known variable that will impact losses attributable to the systemic risk exception.
Finally, under the interim final rule, upon final termination of the receiverships, the FDIC will either: (1) provide an offset to regular quarterly deposit insurance assessments for IDIs subject to the special assessment if the FDIC has overcollected or (2) collect from IDIs subject to the special assessment a one-time final shortfall special assessment if the FDIC has undercollected.
The interim final rule will be effective upon publication in the Federal Register and comments on the interim final rule are due 30 days after publication.