"The agency that protects U.S. bank deposits is asking Congress for temporary authority to boost deposit insurance limits as the government works to contain the financial crisis.From Bloomberg:
Federal Deposit Insurance Corp. Chairwoman Sheila Bair on Tuesday asked for unspecified authority to raise insurance limits on the very day that both presidential candidates recommended the move as a way to help prospects for the failed $700 billion financial bailout bill."
"The FDIC currently provides $100,000 of insurance for individual bank deposits. The memo didn't specify what new level was being requested by the agency."