FDIC runs insolvency risk

[Blue Tile Spook]

FDIC runs insolvency risk | The Journal Gazette

Originally Posted by The AP

WASHINGTON – The head of the Federal Deposit Insurance Corp. has warned that the fund insuring Americans’ bank deposits could be wiped out this year without the money the agency is seeking in new fees from U.S. banks and thrifts.

Originally Posted by The AP

“Without substantial amounts of additional assessment revenue in the near future, current projections indicate that the fund balance will approach zero or even become negative,” Bair wrote in the letter dated Monday to the chief executives of the nation’s 8,305 federally insured banks and thrifts.

I wondered how long it would be before this was put into print.