The Federal Deposit Insurance Corporation (FDIC), a key American regulator, could manage a bad bank that the Obama administration is likely to soon set up, say reports.
Bloomberg, a media agency, reported on Tuesday that two sources had said that the new administration was to create a bad bank to buy banks' toxic assets and that Sheila Bair, the chairman of the FDIC, was pushing to run the institution.
United States stock indices rallied on reports of the plan. At 10:50 local time, the Dow Jon
- World’s largest SWF bars investment in four companies for guideline breaches
- ECB needed better data in 2008 crisis, says Lautenschläger
- Brazilian government must respect central bank independence – IMF
- Seychelles must act fast on money-laundering, says central bank
- Is the pursuit of a common accounting standard for gold a fool’s errand?