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US banks pressed to rectify inaccurate financial statements Here s why

The Federal Deposit Insurance Corporation (FDIC) on Monday asked banks to amend their financial statements that “incorrectly” indicate uninsured deposits. The FDIC's warning comes after banks objected to a fee that was imposed with an intention to recover losses from the failures of Silicon Valley Bank and other firms.

Banks restatements of uninsured deposits jump fourfold

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