February 20, 2010 |
The billionaires' club of private financiers who took over the remains of IndyMac Bank from the Federal Deposit Insurance Corp. turned a profit of $1.57 billion last year on the failed mortgage lender -- more than they invested less than a year ago. Yet under the sale agreement, the federal deposit insurance fund still could lose nearly $11 billion on bad loans that the Pasadena institution made before it was sold last March and renamed OneWest Bank....
December 14, 1995 |
The banking industry posted record earnings of $13.8 billion in the third quarter, compared with $11.8 billion in the third quarter of 1994, the Federal Deposit Insurance Corp. said Wednesday. The third quarter earnings were higher than the previous record of $12 billion in the second quarter, the FDIC said. FDIC Chairman Ricki Helfer said the outlook for the banking industry "remains positive going forward."
February 8, 1991 |
A deep recession lasting a year or more could wipe out 440 banks, the chairman of the Federal Deposit Insurance Corp. said Thursday. But he expressed confidence that the industry is healthy enough to bolster the ailing deposit insurance fund. L. William Seidman told the House Budget Committee that his agency, which operates the insurance fund with premiums collected from banks, "can provide a plan to handle losses through late 1991 without any new legislation."
February 26, 1991 |
The insurance fund that backs the nation's troubled banking industry may seek a $10-billion loan to avoid a looming cash crunch, its chairman said Monday. Federal Deposit Insurance Corp. Chairman L. William Seidman, speaking to journalists at a banking industry conference, said the loan should be enough to see the fund through 1991. "But we ought to be looking at further plans for beyond that," Seidman said.
January 31, 1991 |
The head of the government agency that protects bank deposits said today that the giant insurance fund could be depleted by the end of this year if the recession is longer and deeper than currently expected. William Seidman, the chairman of the Federal Deposit Insurance Corp., said, however, that even if the more pessimistic scenario does develop, the government will be able to replenish the fund with larger contributions from the banking industry.
December 31, 2008 |
Federal regulators officially rejected a banking industry push to suspend accounting rules that force banks to value assets on their balance sheets at current market prices even if they plan to hold them for years. The Securities and Exchange Commission issued a report to Congress that recommended maintaining so-called mark-to-market rules but suggested improvements to current accounting practices.