WASHINGTON -- Reversing its position of two weeks ago, the Federal Deposit Insurance Corp. now plans to overhaul the rules for mutual thrifts converting to stock ownership, agency staffers said Friday.

An agency task force is drafting a proposed regulation that, if adopted by the FDIC board, would require converting mutual thrifts to give their depositors transferable stock rights. The FDIC proposal will be "an approach to more equitabbly distribute the net worth of the institution," a staffer said.

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