Reuters
U.S officials are looking at ways to temporarily expand Federal Deposit Insurance Corp (FDIC) coverage to all deposits, Bloomberg News reported on Monday. U.S. Treasury Department staff are studying whether federal regulators have enough emergency authority to insure deposits above the current $250,000 cap on accounts without the consent of Congress, the report said, citing people familiar with the matter. One legal framework that is being looked at for expanding FDIC insurance would use the Treasury Department's authority to take emergency action and lean on the Exchange Stabilization Fund, the report added.