National Banking Policies
1991-05-10T00:01:25-04:00https://ximage.c-spanvideo.org/eyJidWNrZXQiOiJwaWN0dXJlcy5jLXNwYW52aWRlby5vcmciLCJrZXkiOiJGaWxlc1wvNDI0XC8xOTkxMDUxMDAwNTQyNTAwMV9oZC5qcGciLCJlZGl0cyI6eyJyZXNpemUiOnsiZml0IjoiY292ZXIiLCJoZWlnaHQiOjUwNn19fQ==The subcommittee heard testimony on legislation that would eliminate insurance protection for banking deposits over the $100,000 limit held in large banks that are considered too big to fail. Insurance policies on deposits over $100,000 in large banks would be eliminated under H.R. 2094, passed on May 7 by the subcommittee. Supporters of the “too big to fail” policy maintain that bank depositors' confidence would decrease if insurance was not available to cover large deposits in large banks. Critics of the “too big to fail” policy criticize the expense of the insurance fund and question whether large banks should be bailed out while deposits in smaller banks may not be covered. In January, accounts larger than $100,000 were fully protected in the collapse of the Bank of New England, a large bank, while in 1990 deposits over $100,000 in the National Bank of Harlem, a small bank, were not protected.
The subcommittee heard testimony on legislation that would eliminate insurance protection for banking deposits over the $100,000 limit held … read more
The subcommittee heard testimony on legislation that would eliminate insurance protection for banking deposits over the $100,000 limit held in large banks that are considered too big to fail. Insurance policies on deposits over $100,000 in large banks would be eliminated under H.R. 2094, passed on May 7 by the subcommittee. Supporters of the “too big to fail” policy maintain that bank depositors' confidence would decrease if insurance was not available to cover large deposits in large banks. Critics of the “too big to fail” policy criticize the expense of the insurance fund and question whether large banks should be bailed out while deposits in smaller banks may not be covered. In January, accounts larger than $100,000 were fully protected in the collapse of the Bank of New England, a large bank, while in 1990 deposits over $100,000 in the National Bank of Harlem, a small bank, were not protected. close
People in this video
- William Brandon President American Bankers Association
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- Johnny Finch Deputy Director General Accounting Office
- Robert R. Glauber Undersecretary Department of the Treasury
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- John Laware Member Federal Reserve->Board of Governors
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- Craig Simmons General Accounting Office
- Steven Swains Assistant Director General Accounting Office
- Howard Wright Arthur Andersen and Company
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