Eight banks fail in US this week alone
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Aug 22nd, 2010 |
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The week ending today has seen another eight US banks downing shutters, due to weak capital status. These banks now would be taken over by the US FDIC and handed over to suitable party at a later date.
This takes the cumulative year to date bank closure total to 118 bringing it closer to the 145 banks closed in the full year 2009. The year 2010 could well see a far higher number of bank closures in US only because the housing sector is not reviving and the unemployment rate remains too high.