FDIC Offers Creative Alternatives
Blackwell, Rob, American Banker
When Federal Reserve Board Chairman Alan Greenspan says he hates your idea, it is time to come up with a plan B -- or several of them.
That is what the Federal Deposit Insurance Corp. quietly has done by tucking inside its reform plan some creative alternatives to doubling coverage to $200,000 per account. These new wrinkles include selling banks additional federal coverage or relying, at least in part, on private insurers.
Industry representatives said that these alternatives, though intriguing, may be too complicated and that they will stick to their original position.
"Clearly, we prefer a straight raise in the coverage limit," said Karen Thomas, …
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Publication information: Article title: FDIC Offers Creative Alternatives. Contributors: Blackwell, Rob - Author. Magazine title: American Banker. Volume: 172. Issue: 166 Publication date: September 7, 2000. Page number: 1. © 2009 SourceMedia, Inc. COPYRIGHT 2000 Gale Group.
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