Search for: "Depositors Insurance Company"
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10 Apr 2009, 4:54 am
Buoyed by the five-term Democrat's misadventures with his two Countrywide "VIP" mortgages and an amendment that let American International Group hand out big bonuses, Dodd's Republican opponents have taken to citing his personal role in busting up the New Deal barrier between commercial banks and investment banks, securities firms, and insurance companies. . . . [read post]
10 Mar 2009, 10:48 am
The situation initially manifested as a crisis of confidence among depositors, financial institution counterparties and market participants that led to sudden and catastrophic collapses of leading financial institutions. [read post]
4 Feb 2009, 7:44 am
Twenty years ago a pension fund or insurance company selling annuities could invest at 3.5% real yield to maturity on an entirely risk-free basis; now only 1.5%: any products which appear to add 10, 20 or 30 basis points to that yield without adding too much risk look very attractive. [read post]
28 Jan 2009, 9:40 am
The Friehling & Horowitz firm was not registered with the Public Company Accounting Oversight Board ("PCAOB"), because of an overbroad exemptive rule (discussed below) that the SEC repeatedly adopted in the wake of Sarbanes-Oxley to spare broker-dealers that were not publicly held from the oversight of a PCAOB-registered auditor. 2. [read post]
5 Jan 2009, 6:39 am
The IRA X plan document provides, among other things, that the IRA Depositor may designate a representative under the custodial agreement through whom Company P is authorized to accept investment instructions for the depositor's account; that the IRA Depositor may direct Company P to invest the IRA assets into any lawful investment that is acceptable to Company P; and that the IRA Depositor is responsible for determining the… [read post]
19 Nov 2008, 1:51 pm
The danger is that in the eyes of inexperienced insurance regulators, the lines between the consumers of financial services will also be blurred, and if insurance companies are not regulated in a way that safeguards their customers, not "just" their shareholders, employees and pensioners, insurance regulation will not be effective insurance regulation. [read post]
4 Nov 2008, 10:29 pm
By the way, aren't all depositors now insured anyway? [read post]
8 Oct 2008, 1:51 pm
Andrew Gray, the Director of the Office of Public Affairs at the FDIC recently reminded us to "remember, no depositor has ever lost a penny of insured deposits, and never will. [read post]
6 Oct 2008, 12:14 pm
On Oct. 6, bizjournals noted:And on Friday, Sept. 26, a "silent run" began on Wachovia's deposits, as borrowers drew down on lines of credit and depositors removed funds from their accounts, the suit states.The company's ability to borrow from other banks was also compromised as the price of credit-default swaps â€â [read post]
1 Oct 2008, 6:25 am
The FDIC insurance program was instituted in the 1933 to protect depositors who lost money when their banks went under. [read post]
28 Sep 2008, 9:23 pm
Had the deposit insurance been called into play, the impact on the fund would have been enormous, and impact on depositors whose deposits exceeded the insurance limits also would have been significant. [read post]
26 Sep 2008, 11:54 am
The FDIC was brought into existence during the Great Depression in 1933 in a climate similar to the one we now face.[3] During the 1920s and 1930s, thousands of banks failed, leaving many depositors without recourse.[4] The FDIC was created to restore consumer confidence in the banking system, and since its inception it has not lost a single penny of insured deposits.[5] The FDIC is responsible for directly examining and supervising about 5,… [read post]
20 Sep 2008, 9:07 pm
Taxpayers bailed out all the savings and loans depositors because we had no choice - their deposits were insured by law. [read post]
17 Sep 2008, 5:44 pm
From its website: "Since the start of FDIC insurance on January 1, 1934, no depositor has lost a single cent of insured funds as a result of a failure. [read post]
12 Sep 2008, 2:55 am
He undoubtedly has aspirations of repeating that performance this time around, but at the same time he has no interest in footing the bill for depositors’ losses in excess of FDIC insurance. [read post]
2 Sep 2008, 8:03 pm
Both companies are hovering near insolvency. [read post]
25 Aug 2008, 1:11 am
On the following day, the FDIC signed a Purchase and Assumption Agreement (P&A Agreement) with State Bank and Trust Company (State Bank) that caused the insured deposits of Oakwood to be transferred to State Bank. [read post]
4 Aug 2008, 2:56 am
Depositors are largely protected by FDIC insurance. [read post]
2 Aug 2008, 6:22 pm
Regulators at the time said IndyMac ended March with about $32 billion of assets, and about $19 billion of deposits, most of which were insured. [read post]
15 Jul 2008, 10:09 am
The Office of Thrift Supervision said it transferred IndyMac's operations to the Federal Deposit Insurance Corporation because it no longer had confidence that IndyMac could meet its depositors' demands.According to federal regulators, IndyMac Bank is the second largest financial institution to close in U.S. history, second only to that of Continental Illinois National Bank, which held nearly $40 billion in assets when it failed in 1984.IndyMac Bancorp Inc.,… [read post]
