Bloomberg News
A big bank-backed alternative to resolving a U.S.-U.K. dispute would have violated federal law, FDIC Chairman Martin Gruenberg said.

FDIC Sticks to Guns on Foreign Deposit Rule

The Federal Deposit Insurance Corp. resisted big-bank pressure to overhaul a rule, issued Tuesday, that clarified that U.S. bank deposits held in a foreign branch do not receive FDIC insurance, even if they can be withdrawn in the U.S.

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