Insurance News Alerts | Deposit Insurance

FDIC Sends Insurance Payouts to 9,500 People

By ⋅ July 26, 2010 ⋅ Post a comment

(ABC) - Thanks to the overhaul of financial rules becoming law Wednesday, the Federal Deposit Insurance Corp. can truthfully say “the check is in the mail” to about 9,500 customers of banks that failed in 2008.
The agency plans to mail depositors roughly $200 million Thursday.
The maximum the FDIC would insure in any single [...]

Big banks prosper but smaller lenders’ struggles deepen

By ⋅ May 23, 2010 ⋅ Post a comment

(LOS ANGELES TIMES) - First-quarter profits tripled for the nation’s banking industry as big banks recovered their footing, the government reported Thursday.
But the news was not all good for the industry. Troubles at smaller lenders swelled the number of problem banks to nearly 10% of all institutions, according to the [...]

FDIC’s Bair Opposes Lincoln’s Proposal to Segregate Swaps Units

By ⋅ May 3, 2010 ⋅ Post a comment

(Bloomberg) — Federal Deposit Insurance Corp. Chairman Sheila Bair is opposing a Senate measure that could cut off privileges to banks like Goldman Sachs Group Inc. and JPMorgan Chase & Co. that don’t segregate swaps trading units.
Bair, in an April 30 letter to Senate Banking Chairman Christopher Dodd and Agriculture Committee [...]

FDIC may extend deposit insurance program -WSJ

By ⋅ April 16, 2010 ⋅ Post a comment

(REUTERS) - The program, which is set to expire on June 30, is expected to be extended by at least six months or possibly through mid-2011, according to the paper.
The move signals that the U.S. government is not yet ready to drop the temporary measures adopted during the financial crisis to prop up the [...]

FDIC Issues $1.38 Billion of Bonds Backed by Assets

By ⋅ March 14, 2010 ⋅ Post a comment

(Bloomberg) — The Federal Deposit Insurance Corp. sold $1.38 billion of guaranteed notes backed by construction loans and seized property from a failed bank, according to a person familiar with the offering.
The debt was broken into three parts, with an $850 million portion that matures no later than October 2012 pricing [...]

FDIC auctions apt to hurt some banks

By ⋅ March 10, 2010 ⋅ Post a comment

(BOSTON) - An FDIC plan to auction more than $1 billion in assets seized from failed banks next month, including a loan to build a W Hotel in Atlanta, may trigger write-downs that weaken lenders nationwide.
Almost half of the loans were originated by Silverton Bank NA, whose collapse in May was the [...]

FPIC Insurance Group, Inc. Reports Fourth Quarter and Year 2009 Results

By ⋅ March 7, 2010 ⋅ Post a comment

(MARKET WATCH) - FPIC Insurance Group, Inc. (”FPIC” or the “Company”) reported for the fourth quarter of 2009:
– income from continuing operations of $7.6 million, or $1.09 per diluted common share, as [...]

F.D.I.C. Needs to Do Some Zombie Hunting

By ⋅ February 24, 2010 ⋅ Post a comment

(THE NEW YORK TIMES) - Killing zombies isn’t just a job for horror movie heroines. It’s also the primary task of Sheila C. Bair, the head of the Federal Deposit Insurance Corporation, Breakingviews says.
Ms. Bair’s challenge has increased as the number of so-called problem banks on the F.D.I.C.’s watch list has spiked. [...]

White House proposes increase in FDIC deposit insurance fund

By ⋅ February 2, 2010 ⋅ Post a comment

(THE WASHINGTON POST) - The Obama administration wants to increase the size of the insurance fund that repays depositors in failed banks, a step that would require all banks to pay larger fees to the Federal Deposit Insurance Corp.
The change, which would require legislation, is part of a broader effort by the [...]

FDIC Looks to Rein In Compensation via Insurance Levy

By ⋅ January 14, 2010 ⋅ Post a comment

(SEEKING ALPHA) - FDIC Chairperson Sheila Bair has released her own proposal to compete with a recently floated proposal for a tax on bank compensation. Her proposal calls for linking compensation with FDIC insurance levies as a means of aligning incentives in the banking industry going forward. In contrast, the competing initiative calls for a [...]

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