PORTSMOUTH, N.H.--BUSINESS WIRE--June 19, 1996--Citizens Trust today announced it has eliminated the direct deposit requirement on its top-ranked E-fund, an innovative product that combines the return of a money market fund with features similar to that of a checking account as well as the convenience of electronic payments.The E-fund is...
simplification of deposit insurance rules has been .approved by the FDIC board of directors. The board approved inserting into the rules a variety of straightforward, easy-tounderstand examples illustrating how deposit insurance applies to the three basic types of accounts owned by consumers.
This white paper document reveals about e-Deposit. The e-Deposit is a deposit that could be managed in electronic form. The concept of fund accessible for different financial transaction makes the e-Deposit appropriate for use at universities. The application is implemented in three-tier architecture. Because of the extensive exchange of financial...
The Federal Deposit Insurance Corp. Board of Directors has approved increasing the deposit insurance coverage on certain retirement accounts at a bank or savings institution from $100,000 to $250,000. The increase, the result of a new law boosting federal deposit insurance coverage for the first time in more than 25...
Myths are a powerful political force inside the Washington Beltway, particularly on banking issues. One myth driving the deposit insurance "reform" legislation that Congress is now considering: Premiums charged by a deposit insurance fund will skyrocket, to an average of 23 basis points, if the fund drops even a basis...
Over the past several years, the FDIC conducted a comprehensive review of the deposit insurance system in three key areas: pricing, fund maintenance, and coverage. Discussions with bankers, trade and consumer groups provided valuable input during this process. In April 2002, the FDIC published a set of recommendations designed to...
MOUNTAIN VIEW, Calif.--BUSINESS WIRE--Feb. 12, 1996--Shareholders in Benham Gold Equities Index Fund, one of the mutual fund industry's largest gold funds, approved changes today that will allow the no-load fund to invest in South Africa for the first time since its inception in 1988.The fund had previously invested almost exclusively...
The author aims to provide guidelines for the pricing of deposit insurance in different countries. He presents several methodologies that can be used to set benchmarks for the pricing level of deposit insurance in a country, and quantifies how specific design features affect the cost of deposit insurance. The author...
By Wichit Chantanusornsiri, Bangkok Post, Thailand Knight Ridder/Tribune Business News Dec. 1--The cabinet yesterday approved a draft law establishing a new deposit insurance agency, a key step toward the future development of the country's financial sector. The new agency...
Banks that have been paying zero in deposit insurance premiums for the past 10 years will face annual premiums of 5 to 7 basis points in 2007, the Federal Deposit Insurance Corp. board decided early this month. The premiums are needed to offset continued strong growth in insured deposits that...
The article says that federal deposit insurance was created in a period of economic crisis to stabilize the economy by protecting depositors. By any measure, it has been remarkably effective in achieving its goals over the years. It is no less important today. Deposit insurance reform is not about increasing...
This paper undertakes a simple general equilibrium analysis of the consequences of deposit insurance programs, the way in which they are priced, and the way in which they fund revenue shortfalls. It shows that the central issue in analyzing deposit insurance is how the government will make up any FDIC...
GAO-03-543 March 28, 2003 Created in 1933 to insure bank deposits and promote sound banking practices, the Federal Deposit Insurance Corporation FDIC plays an important role in maintaining public confidence in the nation's financial system. In 1989, legislation to reform the federal deposit insurance system created three funds...
WASHINGTON AP _ The savings and loan industry's deposit insurance fund is dwindling and may be insufficient to handle a large failure, a government report said Thursday. The insurance fund's inadequacies will worsen unless Congress and regulators address a widening gap between the bank and...
The state Senate yesterday approved Gov. Corzine's plan to borrow billions of dollars to resuscitate the nearly bankrupt fund that pays for major road and mass-transit projects. The vote was 25-13 for the proposal, which would keep the Transportation Trust Fund alive for five years by refinancing current debt...
Summary: The European Parliament has approved a report welcoming the idea of a Cohesion Fund for the four poorest members of the EC and so the way is now open for the Council of Ministers to endorse the arrangements for the Fund to start up without...
In August, the National Congress approved a law extending the 100% government deposit insurance until Sept. 30, 2003. At that point deposit insurance will be capped at 150,000 lempiras (US$9,000). The National Congress approved a law in August tightening rules regulating related lending and investment by...
NEW YORK THE problems facing America's credit system are not confined to thrifts savings and loans) and their deposit insurance fund, the Federal Savings and Loan Insurance Corporation FSLIC. The banking industry's insurance fund, the Federal Depos NEW YORK THE problems facing America's credit system are...
Mutual funds are financial investments called "securities" which can be bought and sold, they are regulated by governments. Mutual funds are established by fund sponsors, who are usually the fund management company. They go through the legal work of having a fund approved and make the initial investments in the...
Byline: Mike Verespej Plastics News Just Oregon, Connecticut and New York still seem to have legislation alive that would expand each state's bottle-deposit laws. On April 5, the Oregon Senate Environment and Natural Resources Committee approved a...
