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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 08/27/2009 : 15:14:19
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US problem banks at 15-year high
The FDIC head said she had no plans to ask for more funds at present
The number of problem US banks rose to the highest level in 15 years between April and June, the industry's regulator has revealed.
The Federal Deposit Insurance Corporation (FDIC) said 416 banks had failed its test criteria during the quarter, up 111 from January to March.
It added that 81 US banks had now been forced to close this year.
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The FDIC judges banks on criteria such as the quality of their outstanding loans and the reserve funds they hold.
'Difficult process'
The regulator said that due to the large number of failed banks, its deposit insurance fund - which safeguards up to $250,000 (£154,000) per personal bank account - had fallen by 20% between April and June to $10.4bn (£6.4bn).
While this was the lowest the fund has been since 1992, FDIC chairman Sheila Bair said she had no plans as yet to ask the Treasury for more funds.
However, she said it was likely that banks would have to pay an additional fee to help replenish the fund.
Ms Bair said the banking industry "can look forward to better times ahead".
"But for now, the difficult and necessary process of recognizing loan losses and cleaning up balance sheets continues to be reflected in the industry's bottom line," she added.
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 08/27/2009 : 15:53:43
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| What is the site that tells your the current standing of banks? |
Trolling is an art. |
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No82s
Penny Pincher Member
USA
198 Posts |
Posted - 08/27/2009 : 16:02:00
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| Try bankrate.com . It may not be what you're looking for but it seems to be pretty objective. The bank rating is toward the bottom of the page. |
The difference between an optimist and a pessimist is that the pessimist is better informed. |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 08/27/2009 : 16:18:50
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| Yeah it kinda helps, but the one with the "risk" of being FDIC'd |
Trolling is an art. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 08/27/2009 : 16:57:43
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quote:
Originally posted by Neckro
Yeah it kinda helps, but the one with the "risk" of being FDIC'd
In that case try You must be logged in to see this link.  |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 08/27/2009 : 18:47:07
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quote:
Originally posted by Neckro
Yeah it kinda helps, but the one with the "risk" of being FDIC'd
I don't think you'll get the specific data on which banks are possible to fail from the FDIC. It would just cause the banks on that list to loose depositors and cause the bank to fail. |
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US problem banks at 15-year high
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