Banks will have to refinance an estimated $787 billion in floating-rate notes by the end of 2009. They need money to refinance. Guess one place they'll go to get it?
The FDIC released their Quarterly Banking Profile today and it looks pretty grim. Net banking income declined 87% and the number of problem banks grew from 90 to 117.
KeyDirect has some very competitive CD rates, and you now can get an extra bump of 25 basis points when you have the Key Advantage Checking. With the checking, the best rates include 4.55% APY...
Below are excerpts from the FDIC's press release. One thing to note is that like IndyMac's closure, the FDIC is covering 50% of the uninsured deposits. The one big difference is there were only $13...
Article | Submitted Aug 1, 2008 | Views: 113 | Comments: 0
Tags: banks, fdic, bank closure
What a bank president doesn't want to hear from from the OTS...
IndyMac executives suspected the end was near even before the regulators turned up. Examiners do not warn banks they are coming,...
From the FDIC press release:
"First National Bank of Nevada, Reno, Nevada, and First Heritage Bank, N.A., Newport Beach, California were closed today by the Office of the Comptroller of the...
This is a good blog post with some history of past bank failures and what we may expect in the future. A chart shows how bad it got in the late 80's and early 90's. Hope it doesn't get that bad...
The Feds have finally stepped in. Hope everyone who follows BCC had under the FDIC insured limits. There were definitely plenty of warnings.
Here's the first part of the FDIC's press release:...
Chinese consumers have been socking away money in time deposits (what we call CDs) for the last year and while you would think banks might like it, they don't. Banks worldwide suffer when...
This blog post has a good discussion on some of the important features from online banks besides high rates.
An important feature for me is the ability to easily link to my other bank accounts....
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