WASHINGTON–Congress and the Bush administration are exploring whether to expand the Federal Deposit Insurance Corporation to guarantee insurance products.

In comments at an international banking conference of international deposit insurers in Arlington, Va., yesterday, FDIC chairman Sheila Bair said that Congress is interested in a federal mechanism to regulate insurers with a U.S. guarantee similar to deposit insurance.

"That might be a direction where our abilities would be expanded," Ms. Bair said.

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