Business: Banking Week

More than 13,000 of the 15,000 banks in the U. S. last week held a shower for the Federal Deposit Insurance Corp. by sending checks to set the corporation up in business and get their deposits up to $2,500 guaranteed for six months. Their total contribution was estimated at $90,000.000 to $100,000,000 and they became liable to be assessed an equal amount later. The U. S. contributed $150,000,000 to the pot; the Federal Reserve Banks $131,000,000. Because banks, for the temporary guarantee, are assessed only on the portion of their deposits insured,*...

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