On December 16, the FDIC approved an interim final rule providing for the collection of a special assessment to recover losses to the deposit insurance fund arising from the systemic risk determination announced on March 12, 2023, following the closures of two major banks. The rule aims to ensure the FDIC will collect the exact amount needed through the special assessment to match the total losses attributable to the “systemic risk exception,” preventing either over- or under-collection. The FDIC estimated that the total cost of the failures to be recovered through the special assessment was approximately $16.7 billion as of September 2025, which will be adjusted periodically.

The interim final rule would also require 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 one of the closed bank entities. This litigation represents the largest known variable affecting losses under this systemic risk exception. Upon final termination of the receiverships, if overcollection occurs the FDIC will either provide an offset to regular quarterly deposit insurance assessments for insured depository institutions subject to the special assessment; if under-collection occurs, the FDIC will collect a one-time final shortfall special assessment. The interim final rule will become effective upon publication in the Federal Register and comments are due 30 days after publication.