An editorial from
St. Petersburg, Fla. TimesLarge American banks are getting a free ride on some $350 billion in deposits at their foreign branches.
Because the funds are nominally uninsured by the Federal Deposit Insurance Corp., they pay no insurance premiums.
Should any of those banks fail, however, the government most likely would be obliged to protect all the depositors.
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In that light, they ought to be assessed for premiums.