FDIC Expands Process To Allow Bidders Without Bank Charters
The FDIC said it will also consider abbreviated information submissions and applications, noting time constraints, but said interested investors must have conditional approval for a charter and meet FDIC standards.
Last week, the FDIC finalized its policy to temporarily back debt issued by banks and thrifts, which government officials hope will shore up confidence in the banking sector.
Twenty-two banks in the U.S. have failed this year, including three more that failed Friday as government officials scrambled to contain the spreading financial turmoil. The failures have hit financial institutions of all sizes this year, from $18.7 million Hume Bank in Missouri to $307 billion Washington Mutual Inc.'s banking operations.
-By John Kell, Dow Jones Newswires; 201-938-5285; john.kell@dowjones.com
(Dan Fitzpatrick and Damian Paletta of The Wall Street Journal contributed to this report.)
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(END) Dow Jones Newswires
November 26, 2008 16:36 ET (21:36 GMT)
Publié le 26 novembre 2008 Copyright © 2008 Dowjones
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