Articles by tag - fdic

Two More Bank Failured: Security Savings Bank; Heritage Community Bank
There were two more bank failures last Friday - Security Savings Bank of Henderson, NV and Heritage Community Bank of Glenwood, IL. These bank closings are the 15th and 16th bank failures for the year.
Posted on March 02, 2009 by
FDIC Considering One Time Fee on Banks to Increase Deposit Insurance Fund
The FDIC is recommending a one time emergency assessment on member banks to help replenish the rapidly depleting FDIC insurance fund.
Posted on February 27, 2009 by
Insured Banks and Thrifts Lost $26.2 Billion in the Fourth Quarter
Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported a net loss of $26.2 billion in the fourth quarter of 2008, a decline of $27.8 billion from the $575 million that the industry earned in the fourth quarter of 2007 and the first quarterly loss since 1990.
Posted on February 27, 2009 by
FDIC Head Sheila Bair Answers Questions on CNBC About Deposit Insurance, Mortgages, and John Thain's Bonuses
FDIC Chairwoman Sheila Bair was on CNBC tonight answering questions from Erin Burnet, crazy Jim Cramer, and an audio in a town hall style meeting. Here's what she had to say.
Posted on February 26, 2009 by
Four Banks Fail on Friday - Pinnacle Bank, Corn Belt Bank and Trust, Riverside Bank of the Gulf Coast, Sherman County Bank
Friday the 13th saw four bank failures - Pinnacle Bank, Corn Belt Bank and Trust, Riverside Bank of the Gulf Coast, Sherman County Bank - the most of any Friday so far.
Posted on February 14, 2009 by
John Bovenzi COO of FDIC Says Bank Failure Costs to Top $40 Billion
John Bovenzi, the Chief Operating Officer of the FDIC said in a committe hearing to the US House that the cost to the FDIC to ensure bank failures will likely cost more than the original prediction of $40 billion over the next four years.
Posted on February 05, 2009 by
1st Centennial Bank in California Closed By California Department of Financial Institutions
1st Centennial Bank in California was closed today by the California Department of Financial Institutions, marking the third bank closing of 2009. And we're still only in January!
Posted on January 24, 2009 by
CNBC/Portfolio.com Survey Says 35% of Customers Not Confident Money Safe if Bank Fails
A CNBC/Portfolio survey of 800 respondents found that 35% are not confident or only somewhat confident their money is safe in an Federally insured bank. The FDIC fires back.
Posted on December 11, 2008 by
Goldman Sachs to Sell Bonds in First FDIC-Backed Offering
Now this is interesting. Goldman will be selling bonds to raise money that are 100% backed by the US government. I wonder what they will price at?
Posted on November 25, 2008 by
FDIC's Temporary Liquidity Guarantee Program Provides Unlimited Coverage on Participating Bank Checking Accounts
Citibank and any other bank that participates in the Temporary Liquidity Guarantee Program are eligible to receive unlimited FDIC insurance on checking accounts and even some types of interest bearing accounts.
Posted on November 26, 2008 by
Downey Financial Seized as Bank Consolidation Continues
Downey Financial and two other banks were closed and hastily sold off to larger banks by the FDIC. This continues a trend of banks closing and being sold in deals brokered by the FDIC. It is the beginning of a massive consolidation in the banking sector.
Posted on November 23, 2008 by
Indymac and FDIC Working to Adjust Delinquent Mortgages
The FDIC, through Indymac Federal Bank is testing a program to adjust mortgages to help people stay in their homes. The idea is to prevent foreclosures, which are expensive to banks, as well as keep people in their homes.
Posted on November 02, 2008 by
CD Deposits in Excess of $100,000 Will Not be Covered After December 31, 2009
In September, the FDIC raised the limit on deposit insurance from $100,000 per person to $250,000 per person. But the increase is not permanent. And after December 31, 2009, FDIC is set to roll back. That's important information for anyone interested in investing in longer-term CDs.
Posted on November 06, 2008 by
Newest Version of Bailout Bill May Raise FDIC Insurance Limits to $250,000
The version of the bailout bill that the Senate is scheduled to vote on tomorrow raises the FDIC insurance limit from $100,000 to $250,000 for one year.
Posted on October 01, 2008 by
FDIC Simplifies Coverage Rules for Revocable Trust Accounts
On Friday, the FDIC made a significant change to the way that FDIC insurance is extended on revocable trusts. The change makes it easier to add beneficiaries and simplifies the process. It also means that the FDIC has significantly expanded what it will insure.
Posted on September 29, 2008 by

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