Reasons of Recent Bank Failures in America

by findsteps


In the United States, seven more local and regional banks have closed their doors, taking the cumulative number of US bank collapses to 103 this year, as reported by federal bank regulators. The figures reported by the Federal Deposit Insurance Corporation show that the loss rate was faster in 2010 than in the previous year. At this time last year, only 64 banks had gone under in the United States. According to the FDIC, a total of 140 bank defaults were reported in 2009.[1].

In recent years, the news of bank defaults is catching the headlines more often. As far as bank failures are concerned, America seems to be the number one country. “On average, 14 banks went belly up in every month of 2010 and the total failures are expected to surpass last year’s figure of 140”[2].

Reasons of Recent Bank Failures in America

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