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Washington
Inside Washington (07/10/2009)
* WASHINGTON (7/13/09)--Investors expect that the Federal Deposit Insurance Corp.’s (FDIC) plans to restrict private-equity bank owners will reduce the required capital amounts by half. The agency proposed July 2 a minimum Tier 1 leverage ratio of 15% for private-equity investors who purchase failed banks (American Banker July 10). Wilbur Ross, CEO of W.L. Ross & Co., and Patricia McCoy, a law professor at the University of Connecticut--who attended an FDIC roundtable July 6--expect the capital amounts will be dropped. After the proposed rule was released last week, FDIC Chairman Sheila Bair said the capital ratio may not be popular. The FDIC would consider external input on the matter, according to an agency spokesman ... * WASHINGTON (7/13/09)--Small businesses that would otherwise have difficulty securing private equity or venture capital may find funding easier to get as a result of changes to the U.S. Small Business Administration’s (SBA) Small Business Investment Company (SBIC) program. The changes are a part of the American Recovery and Reinvestment Act. The changes include: eligibility for greater SBA guaranteed funding; maximum SBA funding levels for SBICs that will increase up to three times the private capital raised by SBIC; and limits that are higher for SBICs licensed after Oct. 1 and that certify at least 50% of their investments will be made in small businesses in low-income areas--up to $175 million for single licenses and up to $250 million for joint licenses ...


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