01948F895BD066E1C52F63D1CF579EC057DAA7E8CAE1E0917F8A54FE110D3E67 K5UTYq Mid-Size Banks Ask for Deposit Insurance Extension

Mid-Size Banks Ask for Deposit Insurance Extension

The Mid-Size Bank Coalition of America (MBCA) has requested that the US Federal Deposit Insurance Corporation (FDIC) extend insurance on all deposits for the next two years, which would immediately halt the outflow of deposits from smaller banks and stabilize the banking industry, according to a Bloomberg report. The MBCA proposed that the banks themselves fund the insurance program by raising the deposit-insurance assessment on lenders who opt to participate in the increased coverage, and the failure to provide this could result in up to 300 banks going under. (Read More)

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