bobbyw24
Banned
- Joined
- Sep 10, 2007
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- 14,097
Bair’s No Fan Of Bank Loans For FDIC
Federal Deposit Insurance Corp. Chairman Sheila Bair said
that replenishing the FDIC’s deposit insurance fund
through borrowing from commercial banks is her least
favorite option.
“It’s a possibility, I assume. I don’t see that as a preferred
option, but it is something in the statute,” Bair said at the
annual meeting of the Clinton Global Initiative in New York.
The industry has to cover the losses from bank closures,
which are a direct result from the bad banking practices
that led to the crisis, in one form or another “It’s about
funding mechanism.”
Jamie Dimon, the chairman and chief executive of
JPMorgan Chase & Co. (JPM), who was on the same
panel discussion, responded, with a smile: “The FDIC is a
good credit and we’ll lend you money if you need some.”
Source: Dow Jones Newswire
Federal Deposit Insurance Corp. Chairman Sheila Bair said
that replenishing the FDIC’s deposit insurance fund
through borrowing from commercial banks is her least
favorite option.
“It’s a possibility, I assume. I don’t see that as a preferred
option, but it is something in the statute,” Bair said at the
annual meeting of the Clinton Global Initiative in New York.
The industry has to cover the losses from bank closures,
which are a direct result from the bad banking practices
that led to the crisis, in one form or another “It’s about
funding mechanism.”
Jamie Dimon, the chairman and chief executive of
JPMorgan Chase & Co. (JPM), who was on the same
panel discussion, responded, with a smile: “The FDIC is a
good credit and we’ll lend you money if you need some.”
Source: Dow Jones Newswire
