Bank failures once again set off a climax.

Bank failures reached another climax: Florida, Maryland and Utah each contributed one.

65438+1October 3 1 (Bloomberg News)-Since the real estate crash in 2006, three banks in Florida, Maryland and Utah have closed, and regulators are trying to deal with bankruptcy cases in this busy month.

According to a statement issued by the Federal Deposit Insurance Corporation, Okala National Bank in Florida and the suburban Federal Savings Bank in Croft, Maryland were closed by federal regulators. MagnetBank in Salt Lake City was taken over by Utah Department of Financial Institutions. The bank has assets of $876.4 million and deposits of $790 million.

Due to the sharp drop in house prices and the highest unemployment rate since 16, six banks closed down this month. In the third quarter, the FDIC listed 17 1 bank as a "problem bank", which was 46% higher than that in the worst real estate crisis during the Great Depression.

Regulators closed 25 banks last year, the most since 1993. As of September 30 last year, the FDIC deposit insurance fund paid $34.6 billion. Regulators said that Ocala and suburban federation will cost FDIC about $225.6 million. And he didn't provide the estimate (data) of MagnetBank.

Seven branches of Suburban Federal Bank will become branches of Essex Bank in Tapahannock, Virginia, and are scheduled to open today. According to the Office of Savings Supervision, Essex Bank acquired the bank because bad housing, construction and land loans caused losses to the suburban federation for more than a year.

The regulator said in an e-mailed statement: "OTS believes that suburban federal banks are seriously undercapitalized and in a critical situation."

deposit insurance

Ocala was closed by the Office of the Comptroller of Currency. The Florida Central Bank in Winterhaven, Florida, wants to buy its deposits and four branches.

"The FDIC will continue to provide insurance for deposits, so customers can keep their deposit insurance responsibilities without changing their bank accounts," the FDIC said in a statement from Okala.

The Federal Deposit Insurance Corporation (FDIC) said that it had not found a buyer for MagnetBank deposits for the first time since 2004. Insured customers will receive fund checks next week.

The Federal Deposit Insurance Corporation, the Treasury Department and the Federal Reserve have stepped up their efforts to save American financial institutions. Last year, these institutions announced more than $500 billion in asset write-downs and credit losses, and raised more than $400 billion in capital. 16 10/6, the government gave Bank of America, the largest bank by assets, $20 billion in cash and $ kloc-0/800 million in asset guarantee to help it digest the acquisition of Merrill Lynch & Co) caused by the loss. Citigroup received $20 billion in cash and $3,065,438+billion in guarantees last June.

Bad debt collection bank

According to people familiar with the matter, in order to reduce the pressure on banks' balance sheets, the administration of US President Barack Obama may set up a so-called "bad debt collection bank" managed by the FDIC to purchase non-performing assets.

According to the default data of California RealtyTrac Inc, more than 2.3 million American properties were notified of default or auctioned or repossessed by lenders last year. This is the highest record of RealtyTrac in four years. The number of cases filed in February last year (default) increased by 465,438+0% compared with the same period of last year.

FDIC and OCC have taken measures to prevent bankruptcy, including allowing private capital companies and other buyers to buy the assets and deposits of cash-exhausted loan companies. IndyMac Bank, the fourth largest loan bank in the United States, closed down on June 2 at 65,438+,and was the first institution to be sold to private capital investors, with a transaction volume of 65,438.03 billion US dollars.

The FDIC approved a budget of $2.2 billion last month, almost double the expenditure in 2008. The budget is proposed to recruit staff to deal with bank failures in the next few years. Among them, up to $654.38 billion was used to manage failed banks.

Washington Mutual, the largest financial institution in American history, was sold to JPMorgan Chase. On February 25th last year, 167 billion was withdrawn by depositors in less than two weeks, and Wachovia Corp, which was on the verge of bankruptcy, was acquired by Wells Fargo &: Co for 127 billion.