Daily Skimm

What’s saying ‘show me the money’...

The Federal Deposit Insurance Corporation. Yesterday, the FDIC board said 113 of the nation's largest banks will have to pay up following the collapse of Silicon Valley Bank and Signature Bank. When the two regional banks failed, the FDIC swept in to protect all of the deposits from both banks (beyond the $250,000 insurable amount). However, those lifelines depleted $15.8 billion from the FDIC's Deposit Insurance Fund (DIF). In general, banks pay a fee to the FDIC to receive coverage in case of a bank failure. Now, the agency wants to recoup all of its losses by placing an extra fee on large banks with more than $5 billion in uninsured deposits (looking at you JP Morgan Chase and Bank of America). The board's plan is open to a 60-day comment period, before becoming official and going into effect June 2024. 

What’s making changes...

The FDA. Yesterday, the agency loosened its restrictions on blood donations from gay and bisexual men. In the '80s, men who had sex with men were banned from donating blood amid concerns of HIV transferring into the blood supply. Over the years, the FDA has made changes to ease the ban. Now, under the latest policy, gay and bisexual men in monogamous relationships will be allowed to donate blood without having to abstain from sex for three months. The FDA will also do away with a special questionnaire based on sexuality. However, those taking HIV medications like PrEP are still banned from donating. America's blood centers said this would treat people with the "fairness and respect they deserve." Critics say the PrEP limitation adds "unnecessary stigma."

...Oh and speaking of changes, yesterday, the WHO said mpox is no longer a global health emergency. The news comes as the WHO has recorded a nearly 90% drop in mpox cases in the last three months.

Where tensions are high…

Israel and Gaza. Over the past three days, the Israeli military and Palestinian militants have been exchanging crossfire and airstrikes. At least 30 Palestinians — including women and children — and one Israeli man have died. The latest wave of violence began on Tuesday with Israeli strikes that killed three Islamic Jihad commanders. The Israel Defense Forces (IDF) said it was targeting Iranian-sponsored Islamic Jihad and weapons allegedly stored by the extremist group. It comes as Islamic Jihad is emerging as an influential group in the region. Now, Egypt — a recurring mediator — is trying to secure a ceasefire. National security adviser Jake Sullivan is also pushing for a ceasefire and said there is a need to “deescalate tensions and prevent further loss of life.”

Who's leaving the nest...

Twitter CEO Elon Musk. Yesterday, Musk tweeted that he's stepping down as the head of the social media platform in about six weeks to make room for a new female CEO. He didn't say who it was, but a little birdy said it could be NBCUniversal’s Linda Yaccarino. Musk said he plans to transition to “overseeing product, software & sysops” in the coming weeks.

What’s pedaling back…

Peloton.

What’s saying ‘substitutions are allowed’...

Good Morning America.