, did not require any formal government backstop, though the FDIC said the transaction would cost it $13 billion, on top of the $22.5 billion hit is has already taken from the SVB and Signature Bank failures.the agency's guarantee of bank deposits up to $250,000 per person. In the event an insured bank fails, the FDIC uses the deposit insurance fund to pay back customers who maintained accounts under the limit.
But even banks that many would consider mid-sized or small have become heavily reliant on easily-runnable uninsured deposits, the report showed: more than half of deposits at 40% of banks with assets of $57 billion are uninsured. But it would also have challenges, the report said, including defining what accounts qualify and keeping depositors and banks from trying to circumvent the rules and obtain coverage for which they shouldn't be eligible. It would also likely cost more, with higher assessments levied on banks, the report said.in March that Congress should re-evaluate limits on the size of federally insured bank deposits.
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