© Reuters. FILE PHOTO: The Federal Deposit Insurance Corp (FDIC) logo is seen at the FDIC headquarters in Washington, February 23, 2011. REUTERS/Jason Reed/File Photo
(Reuters) – The U.S. Federal Deposit Insurance Corporation on Thursday was due to consider approving the collection of bank fees to recover losses from the failures of Silicon Valley Bank and Signature Bank (OTC:) in March.
The FDIC’s board of directors had been due to conduct a public meeting to vote on the matter but the agency announced Thursday morning that board members would instead consider the matter in private.
Under a proposed rule unveiled in May, the roughly $16 billion cost would be collected in quarterly payments over a two-year period, with 95% to be paid by banks with more than $50 billion in assets. The final version may be different.
(This story has been corrected throughout to say that the FDIC plans to vote without holding an open meeting)