№ 99 bankruptcy in U.S. bank series without Happy End

U.S. regulators closed the bank in one week – California San Joaquin Bank, bringing the total number of bankrupt banks in the U.S. since the beginning of the year reached 99.
Bankrupt bank has assets of 775 million dollars and 631 million deposits in late September.
Failure of the San Joaquin Bank will cost the Federal deposit Insurance Corporation (FDIC) 103 million dollars for the payment of minimum guaranteed amount of deposits.
According to one state legislation to guarantee deposit account to an amount of 250 000 dollars from the FDIC.
Due to the large number of banks fail this year, the Federal deposit insurance corporation to come in the red. Therefore, it proposed state banks to increase the amount of fees paid to her for deposit insurance.
Last year the number of bankruptcies in the banking sector in the United States byatha 25, and in 2007 – only three. The number of bankruptcies this year was the largest since 1992 during the banking crisis, when 120 financial institutions went bankrupt. During the crisis in 1989 a total of 534 banks closed doors.
According to some estimates in the coming years the number of bankruptcies in the banking sector will be increased to 400 as a result of the economic crisis and poor access to fresh financial resources.

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Finance