FDIC Supervisory Insights The FDIC released the Supervisory Insights report today, detailing the costs and causes of the banking crisis. It should not come as a surprise to anyone that the FDIC’s list of factors that caused the banking crisis center on the abandonment of traditional sound lending standards. The FDIC report does not struggle […]
Should I Buy A CD From A Problem Bank?
May 27, 2009 By Leave a Comment
Safety First For Savings The highest rate certificates of deposit (CD) are usually offered by banks that may be on the FDIC Problem Bank List. A troubled bank usually has difficulty attracting deposits due to the risk of a banking failure and is therefore forced to offer a higher CD rate to attract funds – […]
FDIC Temporary Increase In Deposit Insurance Extended
May 25, 2009 By Leave a Comment
FDIC Deposit Insurance Increase Extended The FDIC announced on May 21, 2009 that the temporary increase in deposit insurance has been extended. On May 20, 2009, President Barack Obama signed the Helping Families Save Their Homes Act, which extends the temporary increase in the standard maximum deposit insurance amount (SMDIA) to $250,000 per depositor through […]
FDIC Reveals List of Opt-Out Banks For TLGP
May 21, 2009 By Leave a Comment
Banks And Financial Firms Say No To FDIC Temporary Loan Guarantee Program (TLGP) Since March, many banks and financial firms have seen the value of their stocks soar as investors’ perception of the overall health of the banking industry improved. Based on the better equity market environment, many banks were able to raise private capital […]
Expert Predicts Up To 500 Failed Banks In 2009 – Is The FDIC Ready?
May 11, 2009 By 2 Comments
Can The FDIC Handle 500 Bank Failures? The former head of the Resolution Trust Company, William Seidman, recently provided commentary on the ability of the FDIC to handle its many critical assignments. According to Mr. Seidman, the successful execution of the FDIC’s new duties is critical to ensuring a recovery of the US financial system. […]
Some Interesting Facts On Failed Banks
May 10, 2009 By Leave a Comment
Failed Banks By Decade Here is the historical record on the number of bank failues in the United States since the 1930’s. By Decade Total Bank Failures 2000-2007 32 1990-1999 925 1980-1989 2,036 1970-1979 […]
Failed Banks For May 8, 2009
May 8, 2009 By Leave a Comment
Failed Banks: Westsound Bank There was one more failed bank this week on May 8 – Westsound Bank, Bremerton, Washington. 2009 has now seen 8 more failed banks than occurred for all of 2008. The FDIC closure of Westsound Bank brings total banking failures for 2009 to 33 banks. The FDIC estimates that the closure […]
Failed Banks for May 1, 2009
May 5, 2009 By Leave a Comment
Failed Banks: America West Bank, Citizens Community Bank, Silverton Bank There were 3 more failed banks on May 1st – America West Bank, Citizens Community Bank and Silverton Bank. 2009 has now seen 7 more failed banks than occurred for all of 2008. The FDIC closure of 3 more banks on May 1st brings total […]