The next time Rhode Island taps the capital markets to help clean up its credit union mess, it may have the option of using a federal guarantee to back as much as $180 million of taxable bonds.

But the guarantee, contained in banking legislation now making its way through Congress, would come with steep fees and unmanageable collateral requirements that insurance provided by the private sector does not have

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.