Condition of the Bank Insurance Fund

Mr. Reischauer, the director of the Congressional Budget Office, testified on the financial status of the Federal Deposit Insurance… read more

Mr. Reischauer, the director of the Congressional Budget Office, testified on the financial status of the Federal Deposit Insurance Corporation. The FDIC insures depositors in banks belonging to the corporation against losses due to bank failures, and it has been steadily depleted by recent bank failures to the point where the failure of a major U.S. bank could completely deplete the fund. Mr. Reischauer said the FDIC could run a deficit before the end of the year if immediate action was not taken. In fact, President Bush predicted in his 1991 budget request to Congress that the fund will run a $23 billion deficit by 1995. Mr. Reischauer supported aiding the Federal Deposit Insurance Corporation by loaning money from the Treasury to make up for the deficit. He said the FDIC could repay taxpayers later. close

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Condition of the Bank Insurance Fund

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Program ID:
16071-1
Category:
Senate Committee
Format:
Senate Committee
Location:
Washington, District of Columbia, United States
First Aired:
Jan 29, 1991
Last Aired:
Feb 2, 1991

Airing Details

  • Jan 29, 1991 | 10:00am EST | C-SPAN 2
  • Jan 29, 1991 | 11:45pm EST | C-SPAN 2
  • Feb 02, 1991 | 11:45pm EST | C-SPAN 2
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