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Federal Deposit and Insurance Corporation (FDIC) head Sheila Bair said Monday that some U.S. financial institutions may be beyond help from U.S. government agencies, and some banks will close. In a conference call with reporters, Bair touted the U.S....

The Federal Deposit Insurance Corporation extended a program that allows bank holding companies to issue government-backed debt on Tuesday. The FDIC extended the deadlines to issue debt and for the debt to expire by six months each for the Temporary Liquidity...

A government takeover of banks would be a " surprising " move given that large U.S. banks are not in danger, FDIC Chairperson Sheila Bair said on Tuesday. Speaking in an interview on the CBS Early Show, Bair admitted that there were ongoing...

Net income from U.S. banks totalled $1.7 billion in the third quarter, according to the Federal Deposit Insurance Corporation on Tuesday, who added that the figure represents a 94% decline in banking income compared to twelve months ago. The report cited...

Federal Reserve chairman Ben Bernanke said there are some signs that credit markets are improving, but that conditions are "still far from normal" and it is "critical" to market confidence that TARP funds are injected into financial...

As President-elect Barack Obama works to put together a new team the focus of the media has largely been on his selection of Secretary of the Treasury . This cabinet office has always been important to the functioning of the government and the financial markets but has generally not generated the interest of say the Secretaries of Defense and State. In the Bush 43 administration, in fact, the holder of that office seemed to be viewed as a mouthpiece for policy formulated by other White House players...

While the media today focused mostly on the testimony of former Federal Reserve Chairman Alan Greenspan before the Senate Banking Committee, there was other news coming out of the hearing. Federal Deposit Insurance Corporation Chairperson Sheila Bair told lawmakers about her plans to use methods pioneered by several existing programs to encourage mortgage servicers to increase the pace of loan modifications for homeowners facing foreclosure. The proposed initiative in which the FDIC is working closely...

Speaking at a conference organized by the National Association of Business Economics on Monday, Federal Deposit Insurance Corporation Chair Sheila Bair the U.S. economy is facing a period of "great financial stress" and that additional regulation...