Word: deposits
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...Deposit city funds only in banks that loan money to repair and improve rent-controlled buildings...
...depositors' sense of security can be attributed in part to the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve's expansionary actions, which have cushioned the impact of the bank failures, Holmes said...
...Treasury remained silent on the most pressing issue confronting banks: how to replenish the nearly broke Federal Deposit Insurance Corporation fund, which insures accounts. The beleaguered fund sank to a record low $8.5 billion after 169 banks failed last year. Without fresh cash, it could go bust by the end of 1991 if the current recession lasts all year. The Treasury left the details of rescuing the fund up to the FDIC and the banking industry. FDIC Chairman William Seidman later said that to rescue the fund, the agency might raise banks' insurance premiums 20% to 30% as of June...
Does the Treasury's reform program stand a chance in Congress? Experts say that limiting deposit-insurance coverage has the brightest prospects in the wake of the S&L bailout. Lawmakers may also look favorably on letting banks expand geographically. The odds are probably longest against permitting banks to diversify into new businesses...
With banks failing at the rate of one every two days, will the Federal Deposit Insurance Corporation's bailout fund run out of money soon? That fear was magnified last week when the Congressional Budget Office predicted that the fund, which contains only $8.5 billion to cover $2 trillion in deposits, could run dry by the end of the year because the recession has aggravated the cost of bank failures. The FDIC may need to borrow $11 billion from the Treasury to keep from going broke, the CBO predicted. The House Budget Committee further undermined confidence in the FDIC...