Federal Deposit Insurance Corporation issues interim final rule lowering the final 2026 systemic risk special assessment and adding overcollection offsets

The Federal Deposit Insurance Corporation (FDIC) issued an interim final rule amending the special assessment imposed on the banking industry to recoup losses associated with the 2023 invocation of the systemic risk exception. The changes are intended to align total collections with the FDIC’s updated loss estimate and create mechanisms to address both undercollection and overcollection. The rule reduces the amount due in the eighth and final quarterly collection in the first quarter of 2026 so that cumulative collections are approximately equal to the FDIC’s total loss estimate as of September 30, 2025 of USD 16.7 billion, reflecting downward revisions driven by better-than-expected performance and improved forecasts for cash flows from certain retained assets. It also requires an offset to assessed banks after final resolution of outstanding litigation with SVB Financial Trust if, at that point, the loss estimate is below the amount collected, noting the current estimate assumes a USD 1.71 billion loss tied to the deposit claim in dispute. Finally, upon termination of the receiverships, the FDIC will either impose a one-time shortfall assessment if collections are insufficient or provide an offset if collections exceed the final loss outcome. The reduced final quarterly collection is scheduled for the first quarter of 2026, with any additional offsets or shortfall charges dependent on the timing and outcome of the SVB Financial Trust litigation and, later, the eventual termination of the receiverships.