From: Neil Lowe [mailto:nlowe@boedison.com]
Sent: Thursday, October 30, 2008 2:55 PM
To: Comments
Subject: FDIC RIN 3064-AD37

From: Neil Lowe The Bank of Edison, Edison Ga.
To: FDIC regulation comments
Subject: FDIC RIN 3064-AD37

Dear Sirs, and Madams

I only have one comment concerning the FDIC extended insurance coverage. This comment is about Public Funds in Banks that are in interest bearing accounts. I feel that we as community Bankers need to pay interest on all Public Funds, as good stewards of our local government’s money. Even though interest rates are approaching zero, something is better than nothing. Under the current plan that is set to expire in December of 09, when we opt in only non interest bearing accounts will be covered over $250,000. This encourages Banks to stop paying any interest at all on Public Funds in order to free up the securities that are pledged against them. Even when the “financial crisis” is over, I feel that all Public Funds should be covered under FDIC Insurance. Our Federal Government should do all it can to assure local governments of the safety of their money.

Thank you for the job you are doing that is helping all of us make it through a tough time.

Sincerely, Neil Lowe
President, The Bank of Edison
Email nlowe@boedison.com