Treasury officials exploring ways to temporarily insure all bank deposits: report ...Middle East

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Treasury officials exploring ways to temporarily insure all bank deposits: report
The Treasury Department is exploring whether the Federal Deposit Insurance Corp. (FDIC) has the authority to temporarily expand insurance to all bank deposits, Bloomberg News reported. The FDIC only insures deposits up to $250,000, but a coalition of mid-size banks is urging the FDIC to guarantee all deposits for two years to stop the flow of money from small and mid-size banks to larger institutions that wealthy depositors see as safer.  Federal regulators protected all Silicon Valley Bank depositors following a run on the bank, citing risks to the broader financial system. That prompted huge outflows of money from other regional banks that had large amounts of uninsured deposits. 

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