To bridge the gap to stronger capital, the Federal Deposit Insurance Corporation (FDIC) is offering banks and their holding companies an opportunity to issue guaranteed obligations for the next nine months.
With respect to fiscal policy, the EU Treaty and the Stability and Growth Pact oblige euro area member states to achieve budgetary positions close to balance or in surplus, in order to provide a safety margin to the 3 % deficit limit. However, the fiscal track record of the euro area is mixed.