The FDIC also announced that in the third quarter, the Deposit Insurance Fund (DIF) decreased by 23.5 percent ($10.6 billion) to $34.6 billion (unaudited). The reduction in the DIF was primarily due to an $11.9 billion increase in loss provisions for bank failures, which represents the estimated losses for FDIC-insured institutions that are likely to fail over the next 12 months. Accrued assessment income increased the fund by $881 million. Interest earned, combined with realized and unrealized gains (losses) on securities, added $653 million to the insurance fund."


joebhed at 22:46 2008-12-21 said:
The FDIC. Let us remember ITS origins and purpose. An FDR measure to prevent bank runs by self-insurance through depository institutions charges to depositors. So, we pay. One way or the other. The FDIC surfaced as an alternative measure to 100 percent reserve banking as a replacement for fractional reserve banking and private money creation. It was generally seen as a stopgap measure to full monetary reform. The private federal reserve system and it fractional reserve lending has run its course, which is national bankruptcy. Google Treasury System versus Federal Reserve System. Bring back the Chicago Plan. Visit monetary.org. It's time to retire the FDIC. Permalink

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