FDICI NEWS RELEASE
flll8Al N'OlrT INSUIANCI COllflOIAl'ION
FOR IMMEDIATE RELEASE PR-82-87 (4-27-87)
FDIC CHAIRMAN URGES JOINT COMMERCIAL
BANK/THRIFT APPROACH TO FSLIC CRISIS
FDIC Chairman L. William Se.idman today called on commercial banks and
thrifts to cooperate and work together to solve the problems confronting the
Federal Savings and Loan Insurance Corporation.
In remarks to the ABA Leadership Conference at the Greenbrier, Mr. Seidman
said: "I ask you to--begin to think of banks and S&Ls as common institutions
-- common in the sense that they are the insured depository system and have
many common interests, not the least of which is the maintenance of a safe and
sound system."
Chairman Seidman said it is imperative that Congress pass a good
recapitalization bill that will solve FSLIC's funding crisis. "Time is
getting short," he warned.
Mr. Seidman urged the two groups of depository institutions to work
together as one industry to create the kind of level playing field and
competitive powers that will allow both to survive and prosper. "If such a
cooperative effort can be achieved," he said, "you will find that you have
much more in common than you have to quarrel about."
Chairman Seidman said he has serious reservations about H.R. 27, the House
bill to recapitalize FSLIC. In addition to concerns about whether the bill
offers a permanent solution to FSLIC's problems, he objected to attempts to
mandate supervisory procedures by legislation.
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FEDERAL DEPOSIT INSURANCE CORPORATION, 550 Seventeenth St., N.W., Washington, D.C. 20429 • 202-898-6996
flll8Al N'OlrT INSUIANCI COllflOIAl'ION
FOR IMMEDIATE RELEASE PR-82-87 (4-27-87)
FDIC CHAIRMAN URGES JOINT COMMERCIAL
BANK/THRIFT APPROACH TO FSLIC CRISIS
FDIC Chairman L. William Se.idman today called on commercial banks and
thrifts to cooperate and work together to solve the problems confronting the
Federal Savings and Loan Insurance Corporation.
In remarks to the ABA Leadership Conference at the Greenbrier, Mr. Seidman
said: "I ask you to--begin to think of banks and S&Ls as common institutions
-- common in the sense that they are the insured depository system and have
many common interests, not the least of which is the maintenance of a safe and
sound system."
Chairman Seidman said it is imperative that Congress pass a good
recapitalization bill that will solve FSLIC's funding crisis. "Time is
getting short," he warned.
Mr. Seidman urged the two groups of depository institutions to work
together as one industry to create the kind of level playing field and
competitive powers that will allow both to survive and prosper. "If such a
cooperative effort can be achieved," he said, "you will find that you have
much more in common than you have to quarrel about."
Chairman Seidman said he has serious reservations about H.R. 27, the House
bill to recapitalize FSLIC. In addition to concerns about whether the bill
offers a permanent solution to FSLIC's problems, he objected to attempts to
mandate supervisory procedures by legislation.
###
FEDERAL DEPOSIT INSURANCE CORPORATION, 550 Seventeenth St., N.W., Washington, D.C. 20429 • 202-898-6996