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Category: Credit, Regulation

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3 Responses to “FDIC Bank Failures”

  1. http://search.yippy.com/search?input-form=clusty-simple&v%3Asources=webplus&v%3Aproject=clusty&query=FDIC+seeks+Pension+Fund+investment+in+Failed+Banks

    http://search.yippy.com/search?input-form=clusty-simple&v%3Asources=webplus&v%3Aproject=clusty&query=FDIC+aids+Private+Equity+Firms

    “…Financial results for the first quarter are contained in the FDIC’s latest Quarterly Banking Profile, which was released today. Also among the findings:

    Loan-loss reserves declined for the first time since the fourth quarter of 2006. Although almost two out of every three banks (62.1 percent) increased their loan-loss reserves in the quarter, the industry’s total reserves declined by $11.8 billion (4.5 percent), as a number of large banks reduced their loan-loss provisions. The industry’s ratio of reserves to total loans and leases fell from 3.50 percent to 3.40 percent during the quarter, but this is still the second-highest ratio in the 63 years for which data are available. “Particularly given economic uncertainties, we believe all banks should continue to exercise caution and maintain strong reserves,” Chairman Bair said.

    The industry’s “coverage ratio” of reserves to noncurrent loans improved for a second consecutive quarter, from 64.9 percent to 65.1 percent, as the decline in noncurrent loans outpaced the reduction in loss reserves.

    The number of institutions on the FDIC’s “Problem List” rose from 775 to 829. However, the total assets of “problem” institutions declined from $431 billion to $403 billion. Also, while the number of “problem” institutions is the highest since March 31, 1993, when there were 928, it is the smallest net increase since the first quarter of 2009.

    Forty-five insured institutions failed during the second quarter.

    The Deposit Insurance Fund (DIF) balance improved for the second quarter in a row. The DIF balance – the net worth of the fund – improved from negative $20.7 billion to negative $15.2 billion during the second quarter. The improvement stemmed primarily from assessment revenues and from a reduction in the contingent loss reserve, which covers the costs of expected failures. The reserve declined from $40.7 billion to $27.5 billion during the quarter…”
    http://www.fdic.gov/news/news/press/2010/pr10201.html

    http://www.winterspeak.com/2009/08/why-fdic-is-fraud.html

  2. seanpj says:

    Unusual development given the fact that the number of problem banks (per CalculatedRisk – http://www.calculatedriskblog.com/2011/03/unofficial-problem-bank-list-increases_26.html) is growing.

  3. cognos says:

    So these “# of failures” stats are silly.

    March was LOWEST cost month ever. Down about 98%(!!) from the peak.

    Here is the link to COST of Failures:

    http://portalseven.com/banks/Failed_Banks_FDIC_Cost.jsp