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FDIC Problem Bank List Reaches 352
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by Jordan Yerman | May 27, 2009 at 08:51 am
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The FDIC has added 53 more banks to its problem bank list, which has now reached 352.
To end up on the problem bank list, a financial institution must be facing difficulties with finances (obviously), or management issues which pose a threat to their future existence. Such banks are not guaranteed to fail, and indeed most do not, but still-- this is the opposite of the honor roll.
Out of the 8,200 banking firms recognized by the FDIC, 13% are expected to fail.
The Federal Deposit Insurance Corp. said that the number of lenders on its so-called "problem bank" list jumped to 305 during the first three months of 2009, from 252 in the fourth quarter of last year. This is the highest level of troubled institutions since 1994.
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Jordan Yerman
Vancouver, British Columbia, Canada
Most RecentMost Recommended Comments (1)
at 13:56 on May 27th, 2009
Great. don't warn the victims.