It’s been recently deemed possible that over 100 more banks could potentially fall victim to the current state of the economy. Thus adding to the pressure on the Federal Deposit Insurance Corp’s
The FDIC may have no other choice but to reach across the pond and elsewhere for assistance in efforts to keep the banking system afloat.
There have been numerous bank closings since 2007, most of which have taken place in the past months of this year. Concerns such as home value depreciation and loss of jobs have all had a collective part in the fall of such institutions as banks.
In 2013 and the years that follow, it is predicted that the demise of banks are going to cost around $70 billion dollars for the insurance deposit fund.
There have recently been some notable bank failures in the past weeks that have included Colonial Bank and Guaranty Bank. These are some of the biggest bank failures in US history that follow the closure of Indy Mac Banking in July 2008, all of which have resulted in the loss of billions.
