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(5) Once paid by Metrobank into the insurance funds,
were not refundable to Metrobank and were available for
use by the FDIC to assist any participant in the funds;
(6) Were triggered by and were coincidental with the
conversion transaction, but had the origin and purpose,
and were assessed and paid not because thereof but
because of the broader purpose to shore up the
financial strength of the FDIC’s insurance funds, the
financial strength of which was of ongoing and
necessary concern not just to the FDIC but to the
entire financial community (and which concern reflected
the same purpose for which Metrobank and others paid
the annual premiums into the FDIC insurance funds). In
other words, the FDIC, Metrobank, Community, and all
other contributors into the insurance funds had the
same purpose for paying the annual premiums and for
paying the exit and entrance fees (i.e., the
maintenance of the financial integrity of the Federal
government’s depository liability insurance programs,
essential not just to the government, but also to every
participant in the financial community -- the
government, the banks and savings and loans, and even
you and I, the depositors who hope and trust that we
will always be able to get our money back).
For the reasons stated, I respectfully concur.
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