Friday, April 12, 2013

The FDIC U.S. Bank Bail-In Plan

The bail-in policy for the US and UK is set forth in a document put out jointly by the Federal Deposit Insurance Corporation (FDIC) and the Bank of England (BOE) in December 2012, titled

'Resolving Globally Active, Systemically Important, Financial Institutions'

[pdf - http://www.fdic.gov/about/srac/2012/gsifi.pdf]

If you believe that what has happened recently in Cyprus is unlikely to happen elsewhere, think again. Economic policy officials in the US, UK and other countries are preparing for it. Remember, someone has to pay. Will it be you? If you are a depositor, the answer is yes.

http://www.counterpunch.org/2013/04/10/winner-takes-all/

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