The FDIC has ordered banks to restate financial statements that incorrectly decreased uninsured deposits before proposing a specific fee based on deposit size.

The warning and modifications came after banks complained about an FDIC fee aimed at major corporations to recover their losses from Silicon Valley Bank and others.

Since 2022, banks have reduced their uninsured deposits, with 55 banks restating their fourth-quarter FDIC uninsured deposits, more than twice the typical.

The regulator warned that if an institution incorrectly reduced the amount of reported uninsured deposits, those reports are inaccurate.

Larger corporations have criticized the FDIC’s approach, arguing that the special assessment methodology lacks analysis to support its assessment.