ACB: Press Releases

Contact:	Robert Schmermund (202) 857-3104 Jim Eberle (202) 857-3145	Jim Eberle (202) 857-3145 (work) (703) 893-2593 (home) [email protected]	For Immediate Release October 31, 2000 #00-122
E-mail: [email protected]

RICKI HELFER TO ADVISE ACB ON DEPOSIT INSURANCE OPTIONS

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SEATTLE – America’s Community Bankers announced today that Ricki Helfer, a former chairman of the Federal Deposit Insurance Corporation, will advise ACB on the deposit insurance reform issues raised by the FDIC in its Options Paper.

The announcement was made by David A. Bochnowski, who was installed at ACB’s Annual Convention today as ACB’s chairman for 2000-2001. “We’re fortunate to have Ricki Helfer’s expertise as ACB analyzes the complex deposit insurance issues raised by the FDIC. Her intimate knowledge of the deposit insurance system will be of tremendous help to ACB and its members as we formulate our views for the FDIC.”

Helfer served as FDIC chairman from 1994 through 1997. She was the first chairman to actively support merging the Bank Insurance Fund and the Savings Association Insurance Fund — the only deposit insurance recommendation in the FDIC’s Options Paper, and an ACB priority.

“I agreed to advise ACB’s Deposit Insurance Team because of the importance of this comprehensive look at deposit insurance to the U.S. financial system,” said Helfer. “As chairman of the FDIC, one of my initiatives was to create the Division of Insurance in order to enhance the agency’s ability to predict risks to the deposit insurance system. Fairly pricing those risks for insured depository institutions, their depositors and the U.S. Treasury is one of a number of significant issues raised by the FDIC’s proposals.”

Since leaving the FDIC, Helfer has served as a governor of the Philadelphia Stock Exchange, a non-resident senior fellow at the Brookings Institution, and a law professor at the Washington College of Law of American University. She is currently an independent adviser on U.S. and international financial institution regulation, based in Columbus, Ohio.

Prior to her service as FDIC chairman, Helfer was a partner at the law firm of Gibson, Dunn & Crutcher. She also served as the chief international lawyer for the Federal Reserve Board, senior counsel for international finance at the Treasury Department, and counsel to the Senate Judiciary Committee.

America’s Community Bankers is the national trade association committed to shaping the future of banking by being the innovative industry leader strengthening the competitive position of community banks. To learn more about ACB, visit www.AmericasCommunityBankers.com.

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