WASHINGTON Nov 19 The U.S. House Financial
Services Committee on Thursday approved a measure that would
set up a $150-billion "systemic dissolution fund" to finance
the unwinding of troubled financial firms.
The Federal Deposit Insurance Corp would handle the
unwindings. The fund would get money from fees charged to
financial firms with more than $50 billion in assets, under the
bill as amended in a committee working session.
The measure was added to a wider bill on systemic risk. An
earlier version had called for assessing a broader base of
firms, targeting those with assets of more than $10 billion.
But the base was narrowed by an amendment from Democratic
Representative Brad Sherman that was approved by a 52-17 vote.
The wider bill, under development for months, had been
slated for a final vote by the committee on Thursday. But that
vote was delayed until after the Thanksgiving holiday.
(Reporting by Kevin Drawbaugh)