FDIC looks to extend debt guarantee program

Banks may soon have six more months of access to the FDIC's debt guarantee program, which was set to expire on October 31. The FDIC board voted unanimously to seek comment for 15 days on extending the program on an emergency-only basis, according to Bloomberg on Thursday.

The program allowed banks, for a fee, to issue new debt with government backing that protects investors in the event of a collapse.