Well, howdy there internet people, let's bow again. So today we are going to talk about the

FDIC and banks and assessments and

as most people know recently there were a couple of banks that did not do so well.

They ran into major issues and the accounts had to be covered by the

FDIC, which is pictured as insurance for your bank account.

The cost to the FDIC for those bank failures, right now I want to say it's like 23 billion dollars.

Now the fund that the FDIC has they have to shore that up. They have to get money to put back into that.

And this was something when all of the, when all of the insurance stuff was going on this was something that a lot of

Americans were worried that they were going to have to pay for. That's not how

it works. The FDIC is insured by banks. They get a kind of an insurance

rate that they have to pay.

Interesting little tidbit is that the FDIC has a whole lot of leeway in determining which banks get assessed, how much they pay, their rates, so on and so forth.

They have indicated, the reporting indicates that the way they are currently looking

at shoring up this fund is to steer a large portion towards what they are calling industry leaders.

They're going to stick it to the big banks.

That's who's going to pay for it.

Oh no.

The goal here is to make sure that community banks and stuff like that that are that don't have as

much money are not adversely impacted.

So the current line of thinking with this is that the assessments for

larger banks are going to be at a higher rate than smaller banks.

And we're not just talking about total dollar amount, that part's obvious but also like let's say it's a percentage

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