US ‘problem’ bank list hits 15-year high
By Joanna Chung in Washington and Francesco Guerrera in Pittsburgh
Published: August 27 2009 16:08 | Last updated: August 27 2009 20:38
The number of US banks at risk of failure is at a 15-year-high while the fund protecting depositors is at its lowest level since 1993, according to figures that highlight the spread of the crisis to the lower reaches of the financial system.
The Federal Deposit Insurance Corporation, a banking regulator, on Thursday said the number of “problem banks” had risen from 305 to 416 during the second quarter. The FDIC does not name the lenders on the “problem list” but said that total assets of that group had increased from $220bn to $299.8bn in the three months through June.
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