US banks will have to advance tens of billions of dollars in industry fees to the fund protecting depositors at the FDIC under a proposal to be to be put forward by regulators on Tuesday. The FDIC’s fund has been depleted this year after the failure of 95 lenders and now stands at about $10.4bn, the lowest since 1993. Sheila Bair, FDIC chairman, has said the agency is considering “all options’’ including tapping its Treasury credit line of up to $500bn and asking banks to pre-pay fees.

This entry was posted by Gwen Robinson on Tuesday, September 29th, 2009 at 4:46 and is filed under Capital markets. Tagged with fdic. Edit this entry.