FDIC seeks bank premium increase
Article Abstract:
FDIC is seeking a 22% increase in annual bank payments to its insurance fund. The $1.19 billion boost would up payments to 28 cents per $100 in deposits. The FDIC had a loss of $7 billion in 1991 and is expected to show a larger-than-expected loss in 1992.
Publication Name: Facts on File
Subject: Business, general
ISSN: 0014-6641
Year: 1992
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Britain's Barings Bank declares bankruptcy
Article Abstract:
Barings PLC declared itself bankrupt after it found out that it lost about 625 million pounds sterling from transactions entered into by trader Nicholas W. Leeson and futures and options clientele. The entity was the UK's oldest merchant bank.
Publication Name: Facts on File
Subject: Business, general
ISSN: 0014-6641
Year: 1995
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FDIC increases insurance premiums
Article Abstract:
The FDIC voted to raise insurance premiums on banks and thrift institutions that were not considered to be well capitalized. The FDIC needed to increase the premiums to rebuild its bank-insurance fund.
Publication Name: Facts on File
Subject: Business, general
ISSN: 0014-6641
Year: 1992
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