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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Africa Europe Latin America Middle East North America Fresh bailouts for smaller banks being weighed By DANIEL WAGNER,AP Business Writer - Saturday, September 26 Send IM Story Print WASHINGTON – Federal regulators and lawmakers are weighing a fresh round of bailouts for banks that were deemed too small or too risky to qualify for earlier aid. Representatives from the Treasury Department, Federal Deposit Insurance Corp. and House Financial Services Committee discussed the plan by phone Thursday, said California Bankers Association Chairman Dan Doyle, who was on the call. Small, community banks are struggling as commercial real estate and other loans go sour. Officials and industry representatives are considering how to get money to those banks, Doyle said Friday. Other banking industry leaders confirmed that the conversations are taking place. They did not know when Treasury might announce the plan. Spokesmen for Treasury and the FDIC did not respond to requests for comment Friday. The cash could go to banks whose ratings by regulators made them too weak to qualify for earlier rounds of funding. It may be limited to banks with less than $5 billion on their books. The banks could be required to raise matching money in the private markets, he said. "The rules were pretty restrictive," Doyle said. "They want to give another opportunity for some of the community banks." The aid for smaller banks could come from the money that larger institutions have repaid to the Treasury's $700 billion financial bailout fund. The move could prevent some small bank failures, which would ease pressure on the FDIC's dwindling fund that insures bank deposits. House Financial Services Committee Chairman Barney Frank, D-Mass., has been "very, very supportive" of giving money to smaller banks, said committee spokesman Steve Adamske. Small banks currently have until Nov. 9 to apply for the money. If more banks are deemed eligible, the deadline may have to be pushed back as the application process can take months to complete. The plan could prevent officials from winding down a key financial bailout program. The $700 billion fund is set to expire on Dec. 31. Republican lawmakers and some Democrats want Treasury to stop lending now that the financial markets have stabilized. Treasury Secretary Timothy Geithner has trumpeted the end of some emergency financial programs as signs the economy is recovering. The department expects to see tens of billions of dollars in additional repayments to the fund in the coming months. But Doyle said FDIC officials still expect up to 150 bank failures this year. So far, 94 banks have been closed. That's the most since 1992, during the savings-and-loan crisis. Officials are scrambling for a way to add money to the deposit insurance fund, and may levy a second extra fee on the banking industry. Officials have said the bank capital injections, which come from Treasury's Capital Assistance Program, are for healthy banks not at risk of failing. Lobbyists for small banks say the rules have been too restrictive, discriminating against smaller institutions that are likely to succeed. "We believe the criteria to determine viability have been too strict," said Karen Thomas, the top lobbyist with the Independent Community Bankers of America. Banks that want government money should be required to raise some private capital to prove that the market believes they will succeed, she added. The program would help "avoid any preventable bank failures," bolster the FDIC's deposit insurance fund and help small banks "weather the storm," Thomas said. 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