Word: fcic
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Dates: during 1970-1979
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...billion, showed operating losses of $6.6 million in 1970 and $4,000,000 last year. To keep the bank from failing, the Federal Deposit Insurance Corporation moved in. Rather than close down the bank and pay off its depositors-which would take a big chunk ($750 million) out of FCIC's $4.7 billion in assets-the agency will make available $60 million over the next five years to keep the bank running while the Chase management restructures its investments...