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Inside Washington (04/24/2012)
  • WASHINGTON (4/25/12)--Federal Deposit Insurance Corp. (FDIC) staff offered another positive assessment about the Deposit Insurance Fund (DIF) at the FDIC board meeting on Monday. Losses to the DIF from failures are estimated to be $12 billion over the five-year period from 2012 through 2016. That is a $7 billion drop from projections for 2011 through 2015 (American Banker April 25). The DIF's balance has increased for eight consecutive quarters, primarily as a result of increased assessment income and fewer bank failures. The DIF held $11.8 billion in reserves, or 0.17% of the nation's insured deposits at the end of 2011. That balance was $2.6 billion higher than a previously unaudited amount reported in the Quarterly Banking Profile. The board featured two new members at the meeting--former Federal Reserve Bank of Kansas City chief Thomas Hoenig and former Treasury Department official Jeremiah Norton ...
  • WASHINGTON (4/25/12)--The Federal Deposit Insurance Corporation (FDIC) and U.S. Small Business Administration (SBA) Tuesday announced new resources to support small businesses.  FDIC Director for Depositor and Consumer Protection Mark Pearce and SBA's Deputy Associate Administrator for Entrepreneurial Development Michael Chodos released Money Smart for Small Business, a training curriculum for new and aspiring business owners. Developed in partnership between both agencies, this curriculum is the latest offering in the FDIC's 10 year old award-winning Money Smart program. Money Smart for Small Business provides an introduction to day-to-day business organization and planning and is written for entrepreneurs with limited or no prior formal business training.  It is designed to offer practical information that can be applied immediately, while also preparing participants for more advanced training. The curriculum is designed to be delivered to new and aspiring business owners by financial institutions and small-business development centers ...

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