Late yesterday, the FDIC adopted a final rule imposing a special assessment to recover the loss to the Deposit Insurance Fund related to the resolutions of Silicon Valley Bank and Signature Bank. The total amount to be collected under the special assessment is equal to the Deposit Insurance Fund’s losses attributable to the protection of uninsured depositors at SVB and Signature, which the FDIC currently estimates to be $16.3 billion. The first assessment payments are due by June 28, 2024. The final rule is substantially similar to the proposed rule, reflecting the FDIC’s rejection of commenters’ substantive recommendations. This final rule may be important to consider in the context of other recent supervisory actions and statements from regulators, in particular statements from Chairman Gruenberg reflecting a preference for banks to hold fewer uninsured deposits. Efforts by the FDIC to reduce what Chairman Gruenberg views as “overreliance” on uninsured deposits could have major consequences for the banking industry and its clients.