US midsize banks seek FDIC Insurance on ‘all deposits’ for 2 years: Report By Cointelegraph

The Mid-Size Bank Coalition of America (MBCA) has reportedly asked United States federal regulators to extend insurance on all deposits for the next two years.

According to a March 18 Bloomberg reportthe MBCA – a coalition of mid-size US banks – sent a letter to the US Federal Deposit Insurance Corporation (FDIC), asserting that extending insurance on “all deposits” would “immediately halt the exodus” of deposits from smaller banks.