WASHINGTON -- The Bank Insurance Fund has more money today than ever. During the third quarter, the bank fund rose above $18.3 billion its previous record set in 1987.

With this growth, the fund will hit its target of $1.25 for every $100 of insured deposits by mid-1995, said Art Mutton, deputy research director at the Federal Deposit Insurance Corp. To hit that target, the insurance fund will need just under $24 billion, Mr. Murton said.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.