Financial Audit: Federal Deposit Insurance Corporation Funds' 2002 and 2001 Financial Statements. From: General Accounting Office Reports & Testimony | Date: May 1, 2003 | COPYRIGHT 2003 Stonehenge International. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

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 to be administered by FDIC: the Bank Insurance Fund and the Savings Association Insurance Fund, which protect bank and savings deposits, and the...

Related newspaper, magazine, and journal articles from HighBeam Research

	ISSAC: STUDY OF NATION'S BANK INSURANCE FUND FLAWED The Journal Record ; Speculation about the health of the nation's bank insurance fund in the past two months has caused former Federal Deposit Insurance Corp. Chairman William Isaac to examine the temperature-takers and their techniques. His diagnosis: analysis of the fund by Stanford University's R. Dan Brumbaugh Jr.,
	Bolstering bank insurance: Washington examines proposals to shore up the FDIC's depleted deposit-insurance fund before a major financial crisis develops. (Bank Worries) U.S. News & World Report ; ... considerable stress, Seidman told the Senate Banking Committee, and it is at the lowest point at any time in modern history. Bad news. The statistics reinforce Seidman's bleak assessment. A cascade of bad loans, primarily in a weakening real-estate market, has ...
	Banks Hold Talks on Beefing Up Deposit Insurance Fund The Washington Post ; At the urging of Federal Deposit Insurance Corp. Chairman L. William Seidman, banking industry leaders are conducting secret discussions to try to find a way to pay for the staggering cost of bank failures without turning to taxpayers for help. The bankers say they are determined not to let the
	FDIC Weighs Raising Deposit Insurance Fund by $1 Billion; Hike in Bank Fees Would Bolster Reserve The Washington Post ; The Federal Deposit Insurance Corp. is considering assessing banks an additional $1 billion a year to strengthen the fund that protects depositors when banks fail. Eroded by the worst string of bank failures since the 1930s, the FDIC bank insurance fund has lost money for two years in a row and the
	CBO: Bank Insurance Fund Drying Up;Budget Office Warns Recession Puts FDIC in Jeopardy This Year The Washington Post ; The Congressional Budget Office warned Congress yesterday that the Federal Deposit Insurance Corp. will run out of money by the end of the year because the economy has slipped into a recession that is rapidly driving up the cost of bank failures. Only hours before President Bush pledged his support

See all results.