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Released: February 24, 2010
At FDIC, bracing for a wave of failures
Source: Eric Dash, NY Times (Free Registration)
The Federal Deposit Insurance Corporation is bracing for a new wave of bank failures that could cost the agency many billions of dollars and further strain its finances.
With bank failures running at their highest level in nearly two decades, the F.D.I.C. is racing to keep up with rising losses to its insurance fund, which safeguards savers’ deposits. On Tuesday, the agency announced that it had placed 702 lenders on its list of “problem” banks, the highest number since 1993.
Read Full Article: At FDIC, bracing for a wave of failures
Tags/Keywords
banking, insurance, banks, headlines, fdic, deposits
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