WASHINGTON The Federal Deposit Insurance Corp. is considering overhauling the way mutual thrifts sell stock for the first time, with a new approach that would give much of the institutions' value to depositors, the government, or charities.

The FDIC plans to propose a rule and call for comment on a new, comprehensive approach to conversions when its board meets this morning, according to FDIC documents and sources. The two changes would amount to adopting a shortterm approach to mutual thrift conversions, while searching for a long-term solution.

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