First Drop in Number of Problem U.S. Banks Since 2006 |
| New York Times - Aug 23, 2011 |
The number of banks on the government’s list of institutions most at risk for failure fell in the second quarter, the first drop since before the financial crisis began.
Twenty-three lenders came off the list of so-called problem banks during the second quarter, bringing the total to 865, according to data released Tuesday by the Federal Deposit Insurance Corporation. Not all of the troubled lenders will inevitably fail, but the F.D.I.C. considers them most at risk, making the quarterly update one of the clearest measures of the banking industry’s health.
It was the first decrease in the number of problem banks since the third quarter of 2006.
The report also contained other signs of improvement. There were 48 bank failures in the first half of 2011, far fewer than the 86 failures in the first six months of 2010. Last year’s total of 157 collapsed banks was the highest level since the last severe recession in the early 1990s.
Read Full Article from New York Times
- Posted: 2011-08-23 10:54:16
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