NEW FDIC RULE MAY QUICKEN THE DEMISE OF WEAK BANKS
Beginning Jan. 1, 2010, banks the FDIC regards as short of "well capitalized" will not be allowed to pay more than 75 basis points above the U.S. average rate for deposits, a new hurdle that could hinder their ability to compete for customers and threaten their liquidity and a development that industry observers say could lead to a sudden rise in failures early next year.
Referenced Tickers: MBR APAB
11/10/2009 3:51 PM ET
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