FDIC may borrow from Treasury to cover bank failures

08/27/2008 | Wall Street Journal, The

The Federal Deposit Insurance Corp. may be forced to borrow from the Treasury Department with an expected round of bank failures looming, Chairman Sheila Bair said Tuesday. "I would not rule out the possibility that at some point we may need to tap into [short-term] lines of credit with the Treasury for working capital, not to cover our losses, but just for short-term liquidity purposes," Bair said.

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