Midsize US banks ask FDIC to insure deposits for two years2 min read . Updated: 19 Mar 2023, 11:42 PM IST
Doing so will immediately halt the exodus of deposits from smaller banks, stabilize the banking sector and greatly reduce chances of more bank failures, the Mid-Size Bank Coalition of America said
A coalition of midsize US banks asked federal regulators to extend FDIC insurance to all deposits for the next two years, arguing the guarantee is needed to avoid a wider run on the banks.
Select your Category