Lawmakers have moved with unusual speed since the Treasury proposed the financial backstop for the two companies.

Reinsurers provide a financial backstop to insurance companies in the event of big disasters like earthquakes and hurricanes.

He also said governments needed to be prepared to provide a financial backstop for banks before stress test results were published.

German agreement is essential to create a pan-European mechanism to recapitalize or wind down troubled banks, with a joint financial backstop.

German agreement is essential to create a pan-European mechanism to recapitalise or wind down troubled banks, with a joint financial backstop.

Reuters reported last week that a government refusal to provide a financial backstop had cast doubt over the flood insurance subsidy plan.

The industry acts as a financial backstop for insurance companies, helping them cover the cost of claims from natural and man-made disasters.

Reinsurers act as a financial backstop to insurance companies, helping to pay for big claims in return for part of insurers' premiums.

Signs that Greece may win a financial backstop gave a lift to Greek bonds and nudged the euro up from a 10-month low.

Contacts between the International Monetary Fund and Rome have intensified as concern has grown about a financial backstop for Italy, should the country need it.

The G20 put together a huge financial backstop to halt a market meltdown in 2009 but has failed to reach those heights since.

Swiss Re and other reinsurers act as financial backstops for insurance companies, helping them cover the cost of claims from natural and man-made disasters.

EU economy commissioner Olli Rehn said if any government exhausts national funds in helping a troubled lender, it could turn to EU financial backstops .