Monday, November 23,  6:14 pm

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Ailing thrift Guaranty Financial Group faces collapse if it does not receive open bank assistance from the Federal Deposit Insurance Corp., a bailout measure the bank regulator has not granted in more than 15 years.

The Austin, Texas, bank in a Monday Securities and Exchange Commission filing, said "the only remaining means" by which it might raise enough capital to comply with the Office of Thrift Supervision's cease-and-desist order issued in early April is through an open bank assistance plan, which may consist of a direct loan, assisted merger or purchase of assets. Without such an FDIC-approved plan, there is "substantial doubt" that Guaranty could survive, it said.



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