Congress and the outgoing Bush administration are exploring whether to expand the Federal Deposit Insurance Corp. to guarantee insurance products if an optional federal charter is approved down the road.
FDIC Chair Sheila Bair said that with Congress interested in a federal mechanism to regulate insurers, providing a guarantee similar to bank deposit insurance "might be a direction where our abilities would be expanded."
It was not clear from her comments–made in response to a question during an international banking conference of deposit insurers in Arlington, Va.–whether Ms. Bair was referring solely to guarantees on life insurance products, or both life and property-casualty products. She declined to elaborate further.
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