FDIC needs power to shut down non-bank financials - Bair

The Federal Deposit Insurance Corporation should have "resolution power" over non-bank financial companies as well as banks, FDIC chairman Sheila Bair has said.

Addressing the Economic Club of New York, Bair said the FDIC had a successful history of closing failed banks quickly and smoothly, but with the growth of the non-bank financial sector it risked falling behind. In particular, many FDIC-protected banks are now part of a larger group, which fall outside the FDIC's ambit.

"This makes a co

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

If you already have an account, please sign in here.


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here