Funds News

US FDIC: monitoring Lehman impact on insured banks

WASHINGTON, Sept 15 (Reuters) - The Federal Deposit Insurance Corp is closely monitoring the market situation and has taken steps to mitigate any impact on insured banks resulting from Lehman Brothers Holdings Inc's LEH.N bankruptcy filing, the agency's head said on Monday.

FDIC Chairman Sheila Bair reiterated that more than 98 percent of the banking industry is well capitalized, which is the government’s highest capital category.

Bair said in a statement that the FDIC does not comment on specific open and operating institutions.

“We are closely monitoring the situation and have taken steps to mitigate any impact on insured institutions that may be directly affected by Lehman Brothers bankruptcy filing,” Bair said. (Reporting by John Poirier; editing by Carol Bishopric)