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“The directors of the Federal Deposit Insurance Corp. voted Friday to approve the plan, which is meant to break the crippling logjam in bank-to-bank lending.
The FDIC will provide temporary insurance for loans between banks — except for those for 30 days or less — guaranteeing the new debt in the event of payment default [...]

BRUSSELS (Dow Jones)–The European Commission Monday said there are concerns that
the scope of the Irish government’s bank deposit guarantees goes beyond what the
commission considers acceptable under its rules on admissible state aid.
In general, the commission considers retail deposit guarantees to be acceptable
as they are unlikely to “give rise to distortions in competition,” the
commission’s spokesman Jonathan [...]