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FDIC Considers Borrowing From Treasury to Shore Up Deposit Insurance

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posted on Sep, 18 2009 @ 05:47 PM
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FDIC Considers Borrowing From Treasury to Shore Up Deposit Insurance


online.wsj.com

Federal Deposit Insurance Corp. Chairman Sheila Bair said Friday her agency may tap its $500 billion credit line with the U.S. Treasury to replenish its deposit insurance fund, though she appeared cautious about doing so.

"We are carefully considering all options" including borrowing from the Treasury, Ms. Bair said Friday after a speech in Washington.

Ms. Bair has already warned banks that they may face an assessment increase to bolster the fund. Friday, she said there are also other little-known options available to the agency, including requiring banks to prepay assessments. The FDI
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FDIC Fund Running Dry




posted on Sep, 18 2009 @ 05:47 PM
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Alright here it is folks, another FDIC Friday, and now we hear reports that the FDIC insurance fund needs to borrow money.

But hey...recovery is here...right? Ummm....no!

Remember where your money is, make sure you know how much each account has, and if I were you...I would also know your ATM withdrawl limits, along with the fastest route to the bank, in case you need to get
your money out on Thursday. Just so you all know, most of the time, this happens on Fridays...so keep an eye on your bank....

online.wsj.com
(visit the link for the full news article)



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