PRESS RELEASE
Federal Deposit Insurance Corporation
October 5, 1997
Media Contact:
Phil Battey (202) 898-6993
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's
banking system. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing
risks to which they are exposed. The FDIC receives no federal tax dollars — insured financial institutions fund its
operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically
(go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information
Center (877-275-3342 or 703-562-2200). PR-74-97
FDIC ANNOUNCES JANUARY 1998
SYMPOSIUM ON DEPOSIT INSURANCE
FOR IMMEDIATE RELEASE
FDIC Chairman Andrew C. Hove, Jr., today announced that the agency will sponsor a
symposium in January 1998 on deposit insurance. The symposium will focus discussion
on the role of deposit insurance in an evolving financial world and will explore
refinements to the current system.
In making the announcement in a speech at an industry conference in Boston, Mr. Hove
pointed out the need for a symposium in light of the current and pending modernization
and globalization of the U.S. banking industry. He said, "Clearly banking is headed
toward a new world, though the exact route it will take to get there is a bit uncertain."
Participants - to include bankers, consumer and public interest groups, scholars and
other regulators - will be asked their views on maintaining a balance between such
factors as providing stability in the banking system and allowing banks to compete and
evolve.
Mr. Hove also stressed the continued importance of deposit insurance by saying,
"Deposit insurance is a critical thread in the safety net that prevents our financial system
and our economy from hitting bottom when under stress. Large banks benefit from that
safety net along with small banks - money center banks along with community banks -
in fact, everyone in the economy."
In the past several years, the FDIC has held symposiums on other topics, including
derivatives and lessons learned from the financial crisis in the '80s and '90s.
Federal Deposit Insurance Corporation
October 5, 1997
Media Contact:
Phil Battey (202) 898-6993
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's
banking system. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing
risks to which they are exposed. The FDIC receives no federal tax dollars — insured financial institutions fund its
operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically
(go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information
Center (877-275-3342 or 703-562-2200). PR-74-97
FDIC ANNOUNCES JANUARY 1998
SYMPOSIUM ON DEPOSIT INSURANCE
FOR IMMEDIATE RELEASE
FDIC Chairman Andrew C. Hove, Jr., today announced that the agency will sponsor a
symposium in January 1998 on deposit insurance. The symposium will focus discussion
on the role of deposit insurance in an evolving financial world and will explore
refinements to the current system.
In making the announcement in a speech at an industry conference in Boston, Mr. Hove
pointed out the need for a symposium in light of the current and pending modernization
and globalization of the U.S. banking industry. He said, "Clearly banking is headed
toward a new world, though the exact route it will take to get there is a bit uncertain."
Participants - to include bankers, consumer and public interest groups, scholars and
other regulators - will be asked their views on maintaining a balance between such
factors as providing stability in the banking system and allowing banks to compete and
evolve.
Mr. Hove also stressed the continued importance of deposit insurance by saying,
"Deposit insurance is a critical thread in the safety net that prevents our financial system
and our economy from hitting bottom when under stress. Large banks benefit from that
safety net along with small banks - money center banks along with community banks -
in fact, everyone in the economy."
In the past several years, the FDIC has held symposiums on other topics, including
derivatives and lessons learned from the financial crisis in the '80s and '90s.
Last Updated 07/14/1999