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HEALTHY DEPOSIT-INSURANCE FUND PROVES BANK CRITICS WRONG

 WASHINGTON, March 23 /PRNewswire/ -- The Independent Bankers Association of America issued the following:
 With FDIC's release of the projections on the Bank Insurance Fund, it is clear that the fund is much stronger than its critics would have one believe. The current premium rate is obviously more than adequate to ensure that the FDIC/BIF will be recapitalized long before the statutory 15 year deadline.
 Unfortunately, GAO Comptroller Charles Bowsher and House Banking Committee Chairman Henry Gonzalez continue to create the impression that the industry is struggling and the FDIC/BIF is not moving aggressively towards health. This campaign has a political goal -- they have worked against reviewing the oppressive FDIC Improvement Act (FDICIA) legislation that is impeding small business lending and job creation. We are hopeful that this highly positive report will persuade them to change their views and to support and enhance President Clinton's welcomed regulatory relief initiative.
 A highly welcomed first step would be the Congressional postponement of Section 132 of FDICIA to give President Clinton's newly announced program time to work. Section 132 provides for the detailed micromanagement of banks and the oppressive regulations implementing this section with be forthcoming shortly.
 The Independent Bankers Association of America (IBAA) is the only national trade association which exclusively represents the interests of the nation's community banks.
 -0- 3/23/93
 /CONTACT: Ken Guenther or Diane Casey of the Independent Bankers Association of America, 202-659-8111/


CO: Independent Bankers Association of America ST: District of Columbia IN: FIN SU:

DC -- DC015 -- 8615 03/23/93 11:03 EST
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Publication:PR Newswire
Date:Mar 23, 1993
Words:258
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