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EU should adopt single deposit-insurance, bank-resolution system: US FDIC

( October 29, 2024, 23:23 GMT | Official Statement) -- MLex Summary: Martin Gruenberg, head of the US Federal Deposit Insurance Corp., urged the European Union to adopt a single deposit-insurance system rather than leave theirs fragmented by individual countries. Also, he said in a speech at o the Center for Financial Studies at Goethe University Frankfurt, the union would benefit from a system for bank resolution that includes small and mid-sized banks, not just large banks, in light of the US experience with the failure of three regional banks in the Spring of 2023. See speech below:...

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