The Federal Deposit Insurance Corporation (FDIC) approved an interim final rule related to the closures of Silicon Valley Bank and Signature Bank in March 2023.
The interim final rule amends the collection of the special assessment to recover losses to the Deposit Insurance Fund (DIF) following the closures of those two banks. It ensures the FDIC will collect the correct amount through the special assessment, equal to the total losses attributable to the systemic risk exception.
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 Sept. 30, 2025.
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. This will ensure that the cumulative amount collected through the eighth collection quarter will be approximately equal to the loss estimate as of September 30, 2025. Further, it will enable the FDIC to avoid collecting amounts in excess of that loss estimate.
In addition, the interim final rule 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 variable that will impact losses attributable to the systemic risk exception.
Finally, upon final termination of the receiverships, the FDIC will either provide an offset to regular quarterly deposit insurance assessments for IDIs subject to the special assessment if the FDIC has overcollected, or 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. Comments on the interim final rule are due 30 days after publication.