US Republicans Resist Raising FDIC Deposit Guarantee Limit

Hardline Republicans in the US House of Representatives have opposed any universal federal guarantee on bank deposits above the current $250,000 limit, which could be a major roadblock to a key tool regulators could deploy if bank runs re-emerge as financial confidence wobbles. Some bankers and banking trade groups have asked for universal guarantees from the Federal Deposit Insurance Corp (FDIC) to weather the crisis touched off earlier this month by the failure of Silicon Valley Bank (SIVB.O).