A technical move in the Senate has blocked consideration of Harry Reid's proposal to extend unlimited FDIC Insurance on non-interest bearing accounts. Senator Toomey noted the extension would require additional Federal funds and thus violate the Budget Control Act. A vote to waive this requirement failed to garner the required 60 votes.
Transaction Banking Viewpoints
Dec 14, 2012
Nov 19, 2012
The approach regulators take to governing financial institutions has changed. New rules require banks to be more precise about the scope of a line of business and the processes used to deliver the product set of that business.
Mar 24, 2012
We’ll take a break from deposit strategies to explore the world of virtual currencies – Facebook credits, Linden Dollars, World of War Gold. What are the implications of these virtual currencies for banks?Today, few banks are active in building the exploding virtual economy, yet the market value of Facebook and other virtual networks suggest that banks may be heedlessly ceding the revenue streams associated with the settlement, clearing and risk intermediation activities of this new economy.