Word: depositor
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...notes that in the past, the FDIC hasn't needed much. Even at the peak of the savings-and-loan crisis in the late 1980s, when thrifts were closing at the rate of one a day, the FDIC maintained its perfect record of returning every penny of every insured depositor's money, and Bair has preserved that record through 15 bank failures this year. That's partly because the FDIC by law gets to tap a failed bank's assets before any other creditors get a crack at the safe...
...FDIC has a clear message for Americans who are beginning to awaken to the size of the problem: Don't panic. Banks will fail, but it is highly unlikely that depositors will lose their money. The FDIC now guarantees up to $250,000 in individual deposits at the banks it insures. And by law it gets its hands on a failed bank's assets before any other creditors do. FDIC chair Sheila Bair is eager to talk about how no insured depositor has ever lost a penny of his or her deposits...
...become too big to fail because we had all kinds of flaws in our financial infrastructure, in the whole way over-the-counter derivatives work. We don't have the necessary laws or powers to deal with failing non-bank institutions. If they're a big bank, the depositor has deposit insurance and the regulators can wind them down without throwing them into bankruptcy...
...loan book "good quality" in a statement issued jointly with the Bank of England and the U.K. Treasury. And though it's not yet clear how big the Bank of England's lifeline is, the central bank's cash means savers' own deposits are safe. "If I were a depositor, knowing I have the Bank of England behind me is probably the safest place to be," said Adam Applegarth, Northern Rock CEO. That didn't stop lines forming outside some of the firm's branches, with savers keen to pull their pounds...
...Chinese will have to confront from 2006 on: "Now that you have a choice (will you) keep your money with an insolvent institution or one that can pay you back?" The answer?like most of this book's conclusions?is simple: it will be time for this hypothetical depositor to "stand in line with the millions of others at the withdrawal counters." When this happens Beijing "will have only two choices: to maintain public order at the point of the gun or print money fast." Of course, printing money would drown the Communist Party in the same hyperinflation flood tide...