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lucyspag.bsky.social
🌻Lucy🌿
@lucyspag.bsky.social
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lucyspag.bsky.social
FDIC is NOT taxpayer funded. It's funded by assessments on insured banks. From the FDIC website:
www.fdic.gov/consumers/co...

www.fdic.gov/resources/de...
The FDIC is funded by FDIC-insured institutions, not taxpayers, and FDIC deposit insurance is backed by the full faith and credit of the United States Government. FDIC deposit insurance coverage depends on the type of banking products you have. The DIF is funded mainly through quarterly assessments on insured banks. A bank's assessment is calculated by multiplying its assessment rate by its assessment base. A bank's assessment base and assessment rate are determined and paid each quarter. The assessment base has always been more than just insured deposits. From 1935 to 2010, a bank's assessment base was about equal to its total domestic deposits. As required by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act), however, the FDIC amended its regulations in 2011 to define a bank's assessment base as its average consolidated total assets minus its average tangible equity. Therefore, a bank pays assessments on its total liabilities, not just insured deposits.
April 10, 2025 at 9:17 PM