11.   The bill is designed to prevent state-chartered credit unions from making investments that pose undue risk to the federal fund that insures their deposits.

12.   The debate then focused on the moral hazard of insuring the deposits of institutions involved in inordinately risky financial dealings.

13.   The House and Senate budget packages contain two different plans to rebuild the federal fund that insures thrift deposits.

14.   The fund that insures thrift deposits, called the Savings Association Insurance Fund or SAIF, is seriously undercapitalized just as it has assumed responsibility for future thrift failures.

15.   The lenders face more oversight, have insured deposits and were limited from risking their capital underwriting securities.

16.   The savings fund is separate from the Bank Insurance Fund, which insures bank deposits.

17.   The White House also will not propose altering the federal system that insures bank deposits.

18.   Federal Reserve Chairman Alan Greenspan said Thursday policy-makers should proceed with caution as they explore overhauling a Depression-era system that insures deposits in banks and thrifts.

19.   Helfer also said now is the time to make sure that the fund that insures bank deposits does not become undercapitalized.

20.   The Central Bank said the two banks would be placed under receivership of the Philippine Deposit Insurance Corp., which insures deposits in banks.