FDIC: bank failures to cost deposit fund $100 billion, seeks prepayment of $45 billion in feesSeptember 30th, 2009 FDIC says bank failures to cost around $100BWASHINGTON — Federal regulators expect bank failures to cost the deposit insurance fund about $100 billion in the next four years and the fund to be running at a deficit Wednesday. That is higher than an earlier estimate of $70 billion in failure costs through 2013.
Summary Box: Insurance fund nears deficit; FDIC wants banks to prepay $45 billion in feesSeptember 30th, 2009 Summary Box: Deposit insurance fund in the redGOING INTO DEFICIT: The fund that insures U.S. bank deposits will be in deficit as of Wednesday, the Federal Deposit Insurance Corp.
Report: FDIC considers borrowing from banks to replenish dwindling insurance fundSeptember 22nd, 2009 Report: FDIC could seek bailout from banksWASHINGTON — Healthy big banks may lend billions to shore up the government fund that insures regular deposit accounts, according to a report Tuesday. The fund maintained by the Federal Deposit Insurance Corp.
FDIC names first winning bidder in program to back private buys of toxic mortgage assetsSeptember 16th, 2009 FDIC names first winner in toxic asset programWASHINGTON — The Federal Deposit Insurance Corp. on Wednesday named the first winning bidder under a test of the government's program to back private purchases of toxic mortgage assets and get them off banks' balance sheets.
FDIC urges buyers of failed banks to offer temporary mortgage aid for unemployed borrowersSeptember 11th, 2009 FDIC urges mortgage help for unemployedWASHINGTON — The Federal Deposit Insurance Corp. is encouraging companies that buy failed banks with troubled home loans to extend temporary help to people who have lost their jobs and can't pay their mortgage bills.
Summary Box: FDIC says bank deposit insurance fund down 20 percent in second quarterAugust 27th, 2009 Summary Box: Bank insurance fund down 20 percentDWINDLING INSURANCE FUND: The Federal Deposit Insurance Corp. says the fund that guarantees bank deposits (up to $250,000 for regular accounts) dropped 20 percent in the second quarter to $10.4 billion, its lowest point since 1992.
FDIC may temper proposed restrictions on private equity firms seeking to buy failed banksAugust 20th, 2009 FDIC may ease private equity buys of failed banksWASHINGTON — Federal regulators appear ready to temper proposed restrictions on private equity firms seeking to buy failed banks, as the government seeks to lure more potential purchasers amid a mounting tally of collapsed financial institutions. The Federal Deposit Insurance Corp., which proposed the new policy last month, is expected to make the changes when its board meets on Aug.
Regulators shutter small Wyoming bank, bringing this year's failed bank tally to 53July 11th, 2009 Regulators shut small Wyoming bankNEW YORK — Regulators on Friday shut Bank of Wyoming, marking the 53rd failure this year of a federally insured bank. The Federal Deposit Insurance Corp.
3 more banks fail as FDIC seeks stronger rules for buyers of failed banksJuly 3rd, 2009 3 more banks fail as FDIC mulls rules for salesWASHINGTON — Three Illinois banks were shuttered Thursday as government regulators proposed new rules for private equity firms seeking to take over failed banks. Regulators shut down John Warner Bank of Clinton, Ill.; First State Bank of Winchester in Winchester, Ill.; and Rock River Bank of Oregon, Ill., bringing to 48 the number of U.S.
More banks fail as FDIC seeks stronger rules for bank buyersJuly 2nd, 2009 BanksWASHINGTON — Two Illinois banks were shuttered Thursday as government regulators proposed new rules for private equity firms seeking to take over failed banks. Regulators shut down John Warner Bank of Clinton, Ill., and First State Bank of Winchester in Winchester, Ill., bringing to 47 the number of U.S.
FDIC proposes new rules for sale of failed banks as it seeks private equity buyersJuly 2nd, 2009 FDIC seeks stronger rules for sale of failed banksWASHINGTON — Two Illinois banks were shuttered Thursday as government regulators proposed new rules for private equity firms seeking to take over failed banks. Regulators shut down John Warner Bank of Clinton, Ill., and First State Bank of Winchester in Winchester, Ill., bringing to 47 the number of U.S.
FDIC looks for ways to draw private equity buyers into auctions for failed banksJuly 2nd, 2009 FDIC seeks more investor interest in failed banksWASHINGTON — The Federal Deposit Insurance Corp. proposed new guidelines Thursday for potential buyers of failed banks as the government seeks to sell a growing number of closed financial institutions.
2 more banks fail as FDIC seeks stronger rules for buyers of failed banksJuly 2nd, 2009 2 more banks fail as FDIC mulls rules for salesWASHINGTON — Two Illinois banks were shuttered Thursday as government regulators proposed new rules for private equity firms seeking to take over failed banks. Regulators shut down John Warner Bank of Clinton, Ill., and First State Bank of Winchester in Winchester, Ill., bringing to 47 the number of U.S.
More US banks face survival struggleMay 27th, 2009 WASHINGTON - The number of US banks facing collapse jumped dramatically in the first quarter with a 21 percent increase in "problem" lenders, a US government agency said Wednesday. The Federal Deposit Insurance Corporation's head Sheila Bair said the increase - reportedly the worst change in 15 years - showed "the banking industry still faces tremendous challenges".
Government gives big banks rules on how they will be able to exist from bailout programMay 8th, 2009 Gov't sets rules to leave bailout programWASHINGTON — The nation's largest banks that want to exit the financial rescue program will have to demonstrate to the government that they can survive without its support. In a joint statement, Treasury Secretary Timothy Geithner and other government banking officials said Wednesday that the 19 largest banks seeking to withdraw from the $700 billion rescue program will have to prove that they can borrow money without the support of the Federal Deposit Insurance Corp.
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