FDIC Chief Says US Ready If Big Wall Street Bank Ever Failed
- Martin Gruenberg lays out details of plan if bank falters
- Regulator hasn’t yet used powers it got after financial crisis
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The head of the Federal Deposit Insurance Corp. says the US would be prepared to handle any collapse of a major Wall Street bank.
FDIC Chairman Martin Gruenberg on Wednesday laid out a blueprint for how regulators would deal with such a failure and seek to minimize costs. He discussed preparations for a hypothetical scenario rather than any immediate threat.