Explainer-What is the FDIC’s deposit insurance fund used to backstop failed banks?
By Hannah Lang (Reuters) – The Federal Deposit Insurance Corp (FDIC) and its flagship deposit insurance fund have been active since the Great Depression to provide an orderly resolution for failed banks…
Blackstone offers backstop to lure University of California in redemption-stricken REIT
By Chibuike Oguh (Reuters) -Blackstone Inc on Tuesday said it had secured a $4 billion investment from the University of California in its unlisted real estate income trust (BREIT) that has been…
‘A Valuable Backstop’: California Turns To Jet Fuel-Burning Power Plant To Keep The Lights On
‘A Valuable Backstop’: California Turns To Jet Fuel-Burning Power Plant To Keep The Lights On Jack McEvoy on September 1, 2022 California’s Independent Systems Operator (CAISO), a large state grid operator, is…
Explainer-China UnionPay, Russia’s potential payments backstop
By Selena Li HONG KONG – Several Russian banks plan to issue payment cards that use the network of China UnionPay as well as that of home-grown payment system Mir, after Visa…
Swiss gov’t proposes public liquidity backstop for big banks
ZURICH – The Swiss government wants to set up a new backstop allowing the provision of state-guaranteed cash should one of the country’s big banks fail, it said on Friday, as it…
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