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FDIC's Authority To Review Banks Expands

Monday, July 12, 2010 - 5:34 PM
Examining the September 2008 collapse of Washington Mutual, with $307 billion in assets the biggest U.S. bank ever to fail, the Treasury Department's inspector general recommended that the FDIC be assured adequate access to banks' information so that it can assess their potential risk to the insurance fund.

The FDIC "must be able to make its own independent assessment of risk to the (insurance fund) without a requirement to prove a requisite level of risk and without unreasonable reliance on the work" of the primary regulator, the Treasury inspector general, Eric Thorson, said in the report issued in April.

MikeMike327 posts since
Feb 22, 2010
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