Word: depositers
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...Since Moscow substantially eased exit rules in late 1989, the wave of immigrants has brought 185,000 Jews to Israel, the most since 1949, when the country was one year old and Holocaust survivors were fleeing the killing grounds of Europe. Before the flood stops, it is expected to deposit 1 million people in Israel (pop. 4.8 million), enough potential voters to change the course of the nation's politics...
...fields. Congress began to put forth its own proposals last week. Meanwhile, more than 1,000 of the nation's 12,400 commercial banks are on the government's watch list of troubled lenders, a level four times as great as during the 1981-82 recession. And the Federal Deposit Insurance Corp. expects 180 banks with total assets of $70 billion to fail this year. The cost of closing them will drain more than half the cash now in the FDIC fund that insures bank deposits, leaving a meager $4 billion on hand, unless something is done to shore...
...money in here since 1967," said a tearful depositor who found herself locked out of her credit union. "It's $10,000. It's my life's savings. And now I might lose it all." Sundlun shut the institutions after their private insurer, the Rhode Island Share & Deposit Indemnity Corp., was sapped by the failure of a Providence bank whose president vanished in November with $13 million in funds. While 22 credit unions were scheduled to reopen this week under federal deposit insurance, Sundlun pledged to bail out shuttered lenders that are too weak to qualify for such coverage...
...shaky health of the industry led Congress last week to introduce bills to shore up federal deposit insurance and strengthen federal bank supervision. Sponsors included Henry Gonzalez, the Texas Democrat who chairs the House Banking Committee. Meanwhile, the Treasury Department is drafting plans to permit banks to enter new fields to increase their profitability. The key points in the proposals...
...Federal deposit insurance. All sides want to rescue the FDIC fund. The Administration is considering plans to levy a special assessment on banks or raise their insurance premiums to add at least $25 billion. The proposals would limit depositors to a total of $100,000 in federal insurance; in the S&L bailout, some big customers are being repaid the full $100,000 for each of several accounts...