As lawmakers consider deposit insurance reform, Senate Banking Committee Chairman Tim Scott (R-S.C.) is asking the FDIC to provide additional information about the amount of uninsured deposits in the U.S. banking system and the cost to banks should the deposit insurance limit be increased. The post Sen. Scott seeks more info from FDIC on deposit insurance reform appeared first on ABA Banking Journal.| ABA Banking Journal
The American Bankers Association and 52 state bankers associations yesterday urged lawmakers to use upcoming market structure legislation to close| ABA Banking Journal
The Deposit Insurance Fund balance was $129.2 billion at the end of the second quarter of 2024, up $7.5 billion| ABA Banking Journal
Friday was quite a day. The crypto lender BlockFi provisionally agreed a bailout deal with FTX. The hedge fund Three Arrows Capital (3AC), already in compulsory liquidation in its home territory the British Virgin Islands, filed for Chapter 15 bankruptcy protection in the United States. And the crypto broker Voyager suspended trading and withdrawals. Voyager's press release revealed a massive hole in its balance sheet. Some 58% of its loan book consists of loans to 3AC:| www.coppolacomment.com
