WASHINGTON Federal Deposit Insurance Corp. Chairman L. WilliamSeidman said today that "action should be taken early next year" toinject billions of dollars from banks into the government fundprotecting deposits.
Seidman, in testimony for the House banking subcommittee onfinancial institutions, suggested the nation's commercial banks needto inject 1 percent of their deposits, or $24 billion, into the fund.
Also, annual deposit insurance premiums should be raised for thethird time in as many years to 23 cents for every $100 in deposits -nearly triple the 8.3 cents charged last year - he said.
Such a burden "would add only marginally to bank failures," …
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