Merrill would not be the first financial services firm to offer insured deposits.
One idea under study would have all of the more than 12,000 banks with insured deposits buy stock in the fund.
The proposal is to raise premiums to, not by, 19 1/2 cents per $100 of insured deposits.
Also increases the size of insured deposits from $40,000 to $100,000.
Your Government has stood behind the safety of insured deposits before; it does today, and it will do so at all times in the future.
It is currently 12 cents for every $100 in insured deposits.
It is possible for a family to have more than $100,000 of insured deposits at a single bank by creating separate accounts.
The fund is mandated by law to keep a balance equivalent to 1.15 percent of insured deposits.
If the rules are put in place, banks would still be able to use insured deposits to make real estate loans.
Previously, Congress had raised the level of insured deposits to $100,000 from $40,000.
