FDIC to collect banks' insurance premiums in advance
The Federal Deposit Insurance Corp.'s board voted to require banks to pay their insurance premiums for the next three years at the end of this year. The FDIC will collect roughly $45 billion to cover the cost of expected failures. The move suggests that the FDIC expects many more banks to collapse. Sheila Bair, chairwoman of the FDIC, said she is pleased with "the industry's willingness to step up to the task."
Washington Post, The
| 11/13
This story published in SIFMA SmartBrief on 11/13/2009
Get stories like these delivered daily for FREE:
|
SIFMA SmartBrief
Designed specifically for investment bankers, broker-dealers, and mutual fund professionals, SIFMA SmartBrief is a FREE e-mail newsletter. By providing a summary of the day's most important securities news, SIFMA SmartBrief saves you time and keeps you smart. Sign up today to receive SIFMA SmartBrief, FREE of charge. Learn more |
|