FDIC Rules on State-Chartered S&Ls;: The Federal...
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From Times Staff and Wire Reports
FDIC Rules on State-Chartered S&Ls;: The Federal Deposit Insurance Corp. effectively told state-chartered savings and loan associations that they cannot withdraw from the Federal Home Loan Bank System for at least 18 months. That ensures that the S&Ls; will continue contributing to the cost of the federal thrift bailout. Some government officials feared that the FDIC would allow the thrifts to pull out, leading to an exodus that could hurt the system’s ability to help pay for the bailout.
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