Number of troubled U.S. banks reached a peak in 17 years
Number of problem banks in U.S. from July to September of this year increased to 860. This was reported in the press release by the Federal Deposit Insurance Corporation (FDIC). During the first two quarters in America, there were 829 credit institutions, faced with financial difficulties.
In the message FDIC stresses that this figure was the highest since March 1993. Then the number of banks that are in dire financial condition, reached 928.
For the third quarter of 2010, 41 financial institutions went bankrupt. Since the beginning of the year was 127 banks.
Despite the fact that the number of banks with financial difficulties increased, the assets of these credit institutions has decreased to 379 billion dollars. During the first two quarters of this figure was 403 billion dollars.
Meanwhile, FDIC evaluated and the total profit of commercial banks (whose deposits are insured to the corporation) for three months. It amounted to 14.5 billion dollars, 12.5 billion more than the same period last year. In the second quarter of this year, banks earned 21.4 billion dollars.
- FDIC Confirms Good News, Bad News for U.S. Banks (dailyfinance.com)
- 1 in 9 U.S. banks at risk: FDIC (cbc.ca)
- U.S. problem banks grow to 860 in third quarter (marketwatch.com)