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>so they could shore up their balance sheets with cheap and safe FDIC insured accounts. FDIC insured accounts are liabilities on a bank's balance sheet.
by hnnewguy 13y ago
>so they could shore up their balance sheets with cheap and safe FDIC insured accounts.
FDIC insured accounts are liabilities on a bank's balance sheet.
- maxerickson 13y agoYou are right, they did it to access a lending facility that was only available to them if they switched their structure. (I made the mistake of talking when I shouldn't have, I wasn't trying to mislead)