Latest Depositors Insurance Fund Stories
Senior regulators say the Federal Deposit Insurance Corp. is contemplating borrowing money from healthy U.S.
The number of U.S. banks shut to date in 2009 is triple the number that failed in 2008, government regulators said. Most of the banks that failed this year are small, regional banks that fell victim to losses on real estate and consumer loans when unemployment surged to a 25-year high.
The safety net for U.S. bank depositors dropped 20 percent in the second quarter, the Federal Deposit Insurance Co. said Thursday. The bank's insurance fund fell to $10.4 billion from $13 billion, the FDIC said.
The federal insurance fund that guarantees the security of U.S. bank deposits is being drained by the rise in financial institution failures, officials said. The Federal Deposit Insurance Corp.
By Associated Press WHAT'S UP: The federal fund that insures American bank deposits may need a taxpayer-financed cash infusion in the form of a Treasury Department loan. WHAT GIVES: After 11 bank failures this year, especially the July collapse of IndyMac Bank, the Federal Deposit Insurance Corp.