The insurance fund that protects deposits is already $5.5 billion in the red and is supposed to stand behind $3 trillion worth of deposits.
But bank failures are uncomfortably frequent and the fund to protect deposits is shrinking.
The bank insurance fund, which protects deposits up to $100,000 per account, is having serious problems.
The courts have ruled that the tenancy deposit scheme is to protect deposits rather than punish landlords.
The prospects for a turnaround were widely thought to be grim, with the Central Bank expected to, at best, protect deposits.
It protects personal and corporate deposits up to €100,000.
In the end, bankers were happy to accept a narrow measure to protect insured deposits and call it a day.
The state Legislature created a separate $92 million fund to protect deposits.
The decision will also help shape legislation to overhaul the program protecting deposits.
Congressman Schumer's plan would protect insured deposits by requiring that they be put into entities called core banks.
