Market Watch: Senate OKs measure to have big banks pay more fees
WASHINGTON (MarketWatch) – Big banks would be required to pay more into a Federal Deposit Insurance Corp. fund than smaller institutions, according to a provision that was approved by the Senate on Thursday. The FDIC currently collects fees from banks to make payments to depositors of a failed community bank. The fund payments are used to cover losses to depositors of a failed bank. The measure would base the insurance assessment on an institution’s assets instead of U.S. deposits, which would result in large financial institutions paying more because a large part of their asset base is in non-deposit assets such as derivatives and mortgage securities.
