Number of Problem Banks on FDIC List Grows
August 29, 2008
The FDIC issued a press release the other day discussing the number of banks on its “problems list”. According to the release, the number of problem banks grew from 90 at the end of the first quarter to 117. The amount of assets represented by these “problem banks” grew from $26B to $78B, with a big chunk of that change attributable to IndyMac.
A lot of people have been wondering when the banks will get their books in order. It makes sense to follow this metric as one of the measures and we’ll try to keep up with the number of banks on the FDIC “problem list” going forward.
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