US banks will have to advance tens of billions of dollars to the cash-strapped fund protecting depositors at the Federal Deposit Insurance Corporation under a proposal to be to be put forward by regulators on Tuesday.

The fund, which insures up to $250,000 per depositor in each bank, has been depleted this year after the failure of 95 lenders. It now stands at about $10.4bn, the lowest since the peak of the savings and loan crisis in 1993.