Big banks may cover 95% of the cost to refill the $16 billion hole blown in the FDIC's deposit insurance fund by bank failures

• The FDIC proposed a fee on banks to refill the $16 billion hole from covering depositors at SVB and Signature Bank.
• The country's biggest banks would cover 95% of the cost under the regulator's plan. 
• An industry group for community banks applauded the FDIC's move. 

The FDIC proposed a fee on banks to refill the $16 billion hole created in its insurance fund from covering depositors at failed lenders.

A proposal approved by the FDIC's board of directors and outlined by the agency on Thursday called for a special assessment on 113 banks, with bank behemoths picking up the bulk of the cost.