FDIC May Borrow Billions from Treasury

Ad Feedback

The government may allow the Federal Deposit Insurance Corporation to borrow as much as $500 billion from the treasury department.

The Wall Street Journal reports the FDIC would use the money to help insure consumer's bank deposits.

The FDIC has been hit by the string of bank failures in the past year and the agency can currently borrow $30 billion from the treasury.

Despite its short-term difficulties, FDIC head Sheila Blair emphasizes that all insured deposits are backed by the U.S. government.

Log in or create an account to post a comment.  

CBN IS HERE FOR YOU!

Are you seeking answers in life? Are you hurting? Are you facing a difficult situation?

Find peace with God, discover more about God or send us your prayer request.

Call The 700 Club Prayer Center at 1 (800) 823-6053, 24 hours a day.

A caring friend will be there to pray with you in your time of need.

CBN News

CBN News

CBN News is a national/international, nonprofit news organization that provides programming by cable, satellite, and the Internet, 24-hours a day. Follow us on Facebook, Twitter, and Google+.