FDIC: bank failures to cost deposit fund $100 billion, seeks prepayment of $45 billion in feesSeptember 30th, 2009 FDIC says bank failures to cost around $100BWASHINGTON — Federal regulators expect bank failures to cost the deposit insurance fund about $100 billion in the next four years and the fund to be running at a deficit Wednesday. That is higher than an earlier estimate of $70 billion in failure costs through 2013.
FDIC likely will require banks to prepay fees to replenish dwindling deposit insurance fundSeptember 30th, 2009 FDIC expected to require banks to prepay feesWASHINGTON — The Federal Deposit Insurance Corp. may take the unprecedented step of ordering banks to prepay about $36 billion in premiums to shore up the shrinking deposit insurance fund.
FDIC likely will require banks to prepay $36 billion fees to replenish deposit insurance fundSeptember 30th, 2009 FDIC expected to ask banks to prepay $36B in feesWASHINGTON — Looking to shore up the diminishing fund that insures bank deposits, the FDIC may take the unprecedented step of requiring banks to prepay three years' worth of premiums: about $36 billion. The insurance fund has been sapped by billions from a rash of bank failures that began in mid-2008.
Report: FDIC considers borrowing from banks to replenish dwindling insurance fundSeptember 22nd, 2009 Report: FDIC could seek bailout from banksWASHINGTON — Healthy big banks may lend billions to shore up the government fund that insures regular deposit accounts, according to a report Tuesday. The fund maintained by the Federal Deposit Insurance Corp.
FDIC weighs extraordinary steps, including loans from banks, to shore up insurance fundSeptember 22nd, 2009 FDIC weighs extraordinary steps to shore up fundWASHINGTON — The Federal Deposit Insurance Corp. is weighing several costly — and never-before-used — options as it struggles to shore up the dwindling fund that insures bank deposits.
Regulators take over 2 banking units of Irwin Financial; 94 bank failures so far this yearSeptember 18th, 2009 Regulators seize 2 banks; 94 failures this yearNEW YORK — Regulators shut down two banking units of Irwin Financial Corp. Friday, marking the 93rd and 94th failures this year of federally insured banks.
FDIC chief Bair may ask Treasury for money to replenish dwindling deposit insurance fundSeptember 18th, 2009 FDIC chief considers tapping Treasury for fundsWASHINGTON — The chairman of the Federal Deposit Insurance Corp. says she is "considering all options, including borrowing from Treasury," to replenish the dwindling fund that insures bank deposits.
FDIC urges buyers of failed banks to offer temporary mortgage aid for unemployed borrowersSeptember 11th, 2009 FDIC urges mortgage help for unemployedWASHINGTON — The Federal Deposit Insurance Corp. is encouraging companies that buy failed banks with troubled home loans to extend temporary help to people who have lost their jobs and can't pay their mortgage bills.
FDIC may extend debt guarantee program by 6 months for banks with emergenciesSeptember 9th, 2009 FDIC may extend debt guarantee program for banksWASHINGTON — Federal regulators may offer a limited emergency extension of a temporary rescue program that guarantees hundreds of billions of dollars in U.S. banks' debt.
List of US banks closed by feds jumps to 89; some branches taken over, reopen with new namesSeptember 5th, 2009 List of US banks closed by feds jumps to 89NEW YORK — The crippled economy and increasing loan defaults have forced financial regulators to close even more banks, including the only branch of the First Bank of Kansas City, which is reopening under a new name after its deposits are assumed. The number of banks that have failed this year stands at 89 after regulators on Friday shut down banks in Missouri, Illinois, Iowa and Arizona.
Regulators shut down bank in Missouri; makes 85 US bank failures this yearSeptember 4th, 2009 Regulators shut down bank in MissouriNEW YORK — Regulators on Friday shut down First Bank of Kansas City in Missouri, pushing to 85 the number of banks that have failed this year under the weight of the soured economy and rising loan defaults. The Federal Deposit Insurance Corp.
Regulators shut Bradford Bank in Maryland; 82nd US bank failure this yearAugust 29th, 2009 Regulators shut Bradford Bank in MarylandWASHINGTON — Regulators on Friday shut down Bradford Bank, a small bank in Maryland, marking the 82nd U.S. bank failure this year amid the soured economy and rising loan defaults.
Regulators shut Dwelling House S&L in Pittsburgh; 73rd US bank failure this yearAugust 14th, 2009 Small thrift in Pennsylvania shut by regulatorsWASHINGTON — Regulators on Friday shut down Dwelling House Savings and Loan Association, a small bank in Pennsylvania, boosting to 73 the number of federally insured banks that have failed this year. The Federal Deposit Insurance Corp.
Treasury says 12th bank has repaid support it received from $700 billion financial rescue fundMay 8th, 2009 Treasury says 12th bank has repaid bailout fundWASHINGTON — A Texas bank has become the 12th financial institution to return the money it received from the government's $700 billion bailout fund. The Treasury Department reported Thursday that Sterling Bancshares Inc.
Treasury says 11th bank has repaid support it received from $700 billion financial rescue fundMay 8th, 2009 Treasury says 11th bank has repaid bailout fundWASHINGTON — A Texas bank has become the 11th financial institution to return the money it received from the government's $700 billion bailout fund. The Treasury Department reported Thursday that Sterling Bancshares Inc.
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