US bank failures cross 100 this year
Regulators in the US have closed down…
October 24, 2009 12:01 by kippreport
Regulators in the US have closed down 106 banks this year, the maximum since 1992, reports the Associated Press. Seven banks, including three in Florida and one each in Georgia, Wisconsin, Minnesota and Illinois were closed down on Friday, according to the Federal Deposit Insurance Corp (FDIC).
When a bank fails, the FDIC tries to sell off the bank’s assets and cover its liabilities. It uses the insurance fund to cover the rest, says the AP. Bank failures have cost the FDIC’s fund around $25 billion this year and are expected to cost $100 billion through 2013.
More on GCC
-
First report by Etisalat covering global footprint
-
Kuwaiti Oil Service Workers On Strike Over Pay – Union
-
Qatar’s Doha Bank May Sell Bonds To Raise Capital – CEO
-
Qatar to announce new energy infrastructure fund
-
Qatar Holding, Italy Fund Eying Versace – Paper
-
Saudi government websites targeted
-
NCoV – First report of patient-to-nurse spread
-
Saudi regulations target stock market speculators
-
Dubai’s Arqaam Capital Eyes South Africa, Saudi Expansion
-
U.S. Targets Two UAE Firms For Dealing With Blacklisted Iran Banks
-
Airbus officially picked by Kuwait Airways
-
GMR reveals top 50 Mena Corporate Brands
-
Kuwait Airways to sign $3 billion-plus Airbus deal
-
Abu Dhabi Tourism Company Loss Widens
-
Emirates Airline reaps expansion profits
-
Saudi Arabia has 13 cases of SARS-like Coronavirus – WHO
-
UAE Central Bank Shuts Two Money Exchange Firms For Violations
-
Emal plans further expansion
-
Dubai looking at alternatives to repay debt
-
Two more die in Saudi Arabia from SARS-like virus – WHO
Lately on Kipp
-
First report by Etisalat covering global footprint
-
Qatar Should Consider More Flexible Exchange Rate – Central Banker
-
Kuwaiti Oil Service Workers On Strike Over Pay – Union
-
Qatar’s Doha Bank May Sell Bonds To Raise Capital – CEO
-
Yahoo on Tumblr: ‘we promise not to screw it up’
-
Sourcefire Delivers Unprecedented Visibility And Tracking Of Malware
1 Comment
The 106 bank failures for 2009 are the most failures since 1992. Banks are failing fastest in those states with highest unemployment.
This website has graphs showing the bank failures by state and bank failures by month.
http://robvstate.com/2009/10/25/bank-failures-102009/