WASHINGTON -- Federal Deposit Insurance Corp. Chairman William Taylor is scheduled to undergo colon surgery today, the agency announced.

An obstruction in Mr. Taylor's colon will be removed, according to agency spokesman Alan Whitney. It is not known whether the FDIC chief has colon cancer, Mr. Whitney said.

Mr. Taylor, 53, entered Fairfax Hospital in the Washington suburb of Fairfax, Va., on Wednesday. He expects to remain in the hospital for a week.

"I know he intends to be back here pretty quickly," Mr. Whitney said.

Mr. Taylor was planning to be away on vacation this week and next. But last week he began suffering from intestinal cramps, which sent him to the doctor.

Mr. Taylor is in "good spirits," C.C. Hope, and FDIC board member, said yesterday.

"I said, what are your orders? And he said, stay at work and work hard and collect money."

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