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The author summarizes and discusses results of a Federal Deposit Insurance Corporation survey of foreign deposit insurance organizations. The article focuses on procedures for resolving and liquidating failed banks.
Recent legislation permits financial holding companies to engage in merchant banking, a lucrative activity for a handful of large commercial and investment banks for many years. The author provides a history of merchant banking and commercial bank involvement in this specialty.
This regular feature of the FDIC Banking Review contains information on regulatory agency actions, state legislation and regulation, and articles and studies pertinent to banking and deposit insurance issues.
Editor's note: In "The Cost of the Savings and Loan Crisis: Truth and Consequences," which
appeared in the last issue of the FDIC Banking Review, footnote 2 referenced an American
Banker commentary by Kenneth H. Thomas in which he wrote "The public did not realize the
monster Congress had created until taxpayers got the roughly $500 billion bill for bailing out
the thrift industry." Subsequent to publication, Mr. Thomas informed us the $500 billion
figure was a typographical error and that he meant to write $150 billion, a figure he had used
in previous articles and more in concert with the cost of the S&L crisis calculated in this article.