FDIC says it has 416 banks on "problem list"

08/28/2009 | Wall Street Journal, The

The Federal Deposit Insurance Corp. said its list of problem banks has grown from 117 at the end of June 2008 to 305 at the end of March to 416 at the end of June. Those banks have combined assets worth nearly $300 billion. The number of troubled lenders continues to rise despite indications that the economy is stabilizing. "It's a continuation of the deterioration across the industry," said Gerard Cassidy, a bank analyst at RBC Capital Markets. "We think there are hundreds of failures to come."

View Full Article in:

Wall Street Journal, The

Published in Brief: