Word: bankses
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Whether Brown's policies offer better solutions remains to be seen. While there's little more it can do to boost domestic banks' lending, the government is still "doing everything on an ad hoc basis," reckons Simon Maughan, banking analyst at MF Global in London. "There is a serious risk...
Observers expect hundreds of banks to fail in the next few years, giving the agency plenty to do. The FDIC also plans to do more monitoring of lending practices. Last week the FDIC said it wants the 5,000 banks it regulates to provide more data on what they are...
What a difference a credit crunch can make. In the past year, the FDIC has become the most active dealmaker in the banking industry, taking over 25 banks in 2008, up from just three the year before, and auctioning them off to the highest bidder. Its chairwoman, Sheila Bair, who...
The FDIC's chief job is to provide insurance on bank deposits. That means when a bank fails, it is up to the FDIC to guarantee that you'll get at least that much of the money you had in your checking account or savings account or certificate of deposit...
Selling failed banks is never a profitable business. But recently, as the credit crunch has gotten crunchier, the cost of cotton-balling kaput countinghouses has gotten a lot costlier. The FDIC had an average loss (based on deposits) of nearly 30% for the 23 bank deals it did in 2008...