BANKING & FINANCE - Oct. 26, 1994
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From Times Staff and Wire Reports
Thrift Fund Called Threatened: The fund that insures savings and loan deposits could be depleted in five years, given “moderately pessimistic” assumptions about future thrift failure rates, the Congressional Budget Office said. Under a scenario that assumes the Savings Assn. Insurance Fund will have to cover failure losses of $1.5 billion a year, the fund will be insolvent by 1999, the agency said in an Oct. 14 memo sent to the House Banking Committee.
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