August 27, 2009 |
Faced with a rising caseload of failing banks, the Federal Deposit Insurance Corp. has decided it can't be overly picky about who buys the carcasses. The insurance fund's board voted Wednesday to back down from a plan to require private equity firms to maintain an unusually high capital-to-assets ratio for failed banks they buy. The FDIC board voted to lower to 10%, from a proposed 15%, a basic measure of the minimum capital that private equity investors must maintain for three years after buying a bank.
June 13, 2002 |
The nation's Bank Insurance Fund has fallen below its required level for the first time since 1995, regulators said Wednesday, increasing the chance of new fees on banks to replenish the fund, reformation of the deposit-insurance system, or both. Experts see no widespread problems for banks, however. Although the recession has hurt some institutions, total bank earnings were $21.7 billion in the first quarter this year--the first time quarterly profits exceeded $20 billion.
October 9, 1996 |
The Federal Deposit Insurance Corp. on Tuesday approved a plan to rescue the savings and loan deposit insurance fund by having thrifts make a one-time payment of $4.5 billion. The five-member FDIC board unanimously passed rules to rescue the Savings Assn. Insurance Fund, a week after Congress included the rescue language in a broader bank reform bill. The law eliminated the possibility of additional taxpayer financing for the thrift crisis, which cost taxpayers about $481 billion.
CALIFORNIA | LOCAL
September 17, 1996
Before congressional representatives recess this month to hit the campaign trail, they should vote to bolster the deposit insurance fund for savings and loan associations. If they don't, all taxpayers could be left holding a very expensive bag, for while the S&L industry has never been healthier, the Savings Association Insurance Fund (SAIF) is underfunded and casts an uncomfortable shadow from the 1980s over the thrift industry.
November 15, 1995 |
The Federal Deposit Insurance Corp., citing a healthy banking industry and growing economy, Tuesday cut the premiums banks must pay to insure customers' deposits to the lowest rate ever. Starting Jan. 1, the nation's healthiest banks--or more than 9 out of 10 of the 11,000 banking institutions--will see their premiums drop to zero from the current 4 cents for each $100 of insured deposits.
September 22, 1995 |
Federal Reserve Board Chairman Alan Greenspan on Thursday strongly endorsed proposed legislation that would convert the nation's savings and loan associations into commercial banks, signaling the impending end of a 62-year-old industry devoted exclusively to housing finance. The S & L crisis of the 1980s wiped out hundreds of thrifts, and the drastically shrunken industry no longer needs a specially designated role to encourage home ownership, legislators and policy-makers have decided.