US Regulators close 3 more banks last week
Posted by admin . Published on 16 November 2009, Received
The US regulators are having sleepless nights with bank closures happening last week also without any gap. There were totally three bank closures last week, taking the year to date total to 123 banks. The US FDIC is now nearly out of funds, and is busy working out deal for fresh funds from US FED.
It is also expecting to take the annual fees from big banks for the next year in advance to shore up the shrinking reserve position. There could be at least 10 to 20 more bank closures in the remaining six weeks, which can take the total to 130 plus.
