FDIC proposes banks refill fund
Plan requires institutions prepay $45 billion as more failures loom
Posted: September 30, 2009 at 5:09 a.m.
Regulators expect the cost of bank failures to grow to about $100 billion during the next four years - up from an earlier estimate of $70 billion. Faced with that sobering news, they voted Tuesday to require banks to prepay $45 billion in premiums to replenish an insurance fund that will start running dry today.
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Business, Pages 25, 26 on 09/30/2009
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