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Article: Business Digest
- Article from:
- The Washington Post
- Article date:
- September 10, 2009
CopyrightCopyright 2009 The Washington Post. This material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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REGULATORS
The Federal Deposit Insurance Corp. proposed a six-month,
emergency-only extension to its debt guarantee program as regulators
move to wean companies from federal aid approved at the height of
last year's credit crisis. The five-member FDIC board unanimously
approved seeking comment for 15 days on extending the program. The
FDIC now guarantees eligible debt issued before the scheduled Oct.
31 expiration by banks that get agency approval and pay a fee.
"It has been a successful program, but we would like to end it,"
FDIC Chairman Sheila C. Bair said. Credit markets are recovering and
she doesn't expect banks to need further access to the program,
meaning the agency should now seek ...