Central Banking

FDIC may run US bad bank

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

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