On Friday, FDIC Chairman Sheila Bair said [3] that the agency may be forced to tap a $500 billion credit line it has with the U.S. Treasury to replenish its dwindling deposit fund. Congress mandates that the minimum level for the FDIC fund should be 1.15 percent of total insured deposits. As of June, the fund stood at just $10.4 billion, or 0.22 percent of insured deposits.
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