From The Economist:

The FDIC will soon have to replenish its deposit-insurance fund, which collects premiums from banks and stood at around $53 billion before the downturn. One of this year’s failures, IndyMac, has alone depleted the fund’s coffers by one-sixth—and it was no giant. This has pushed the fund’s holdings below a trigger point that requires the FDIC to craft a “restoration” plan within 90 days.

There’s some fairly heady stuff amiss in the world of international finance. Persue a stark comparison of the FDIC to the private derivative insurance industry –and implications for depositors, here, and witness some frank words on the UK’s ‘worst economic crisis in 60 years’ from the Chancellor of the Exchequer Alister Darling, here.

 

Tags: Banking, Financials, Housing, Credit+Crunch, PPT, JP+Oliva

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