WASHINGTON — Rumors that the Federal Deposit Insurance Corp. is close to broke — which have increasingly gained traction as the level of federal reserves has declined — appear greatly exaggerated.

Though on paper the agency had only $10 billion left at the end of the second quarter to deal with an expected rash of failures, the FDIC actually has more than $42 billion on hand — only $4 billion less than it had nine months earlier at the height of the financial crisis.

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