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bank failures: Bank stress test - too big to fail - 04/25/09 08:50 PM
The federal government has published its stress test for major banks. The stress test is to determine how vulnerable these large banks are to various economic worst case scenarios. The actual stress reports are being given privately to the individual banks.
Those banks who fail could be required to increase their capital reserves.
The stress scenarios involve worsening unemployment and continued declines in home values.
The goals of the stress test scenarios were to evaluate the extent of potential problems and to improve market confidence in the financial system.
The effect may have been just the opposite, to increase market instability.
… (6 comments)
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bank failures: Bank failures mounting - 04/24/09 06:58 PM
Last year there were, I think, 25 bank failures. To date this year, there have been 27. Two today. Heritage Bank in Michigan and American Southern in Kennesaw, GA. The pace is apparently picking up.
With the news about GM shedding Pontiac, numerous plant closings, the economy remains troubled. There has been here and there a piece of encouraging news, but I do not think the turn has been made yet.
We are coming into a new economy. More centralized? Less American? More government? Less debt? More socialized? Less entrepreneurial?
A congressman has recently asked if capitalism is the same as … (9 comments)
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bank failures: Bank failures continue - bailout impact from Fannie and Freddie stock price drop - 09/09/08 06:35 AM
Another bank failed last week. This news was lost in the historic developments being reported about the federal takeover and bailout of Fannie Mae and Freddie Mac. It may be that bank failures are becoming old news.
Silver State bank in Nevada was taken over by regulators on Friday.Reports indicate that the failure was from heavy lending in construction and development loans. The bank was reopened Monday as the Nevadad State Bank of Las Vegas.
Last month the FDIC raised its number of troubled banks from 90 to 117. And several reports indicate that expectations are for a major bank to close.
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bank failures: Fed updates troubled bank list - from 90 in March to 117 today - 08/26/08 04:23 PM
The FDIC has just today finally updated its regulatory watch list, increasing the number of problem banks from 90 to 117. We have been looking for this revision to guage how the industry is moving. The news report I read indicates that the banks added to the list are larger players.
While the number of banks increased from 90 to 117, the combined assets increased brom $26 billion to $78 billion. Additionally, banks have had to set aside more that 4 times the loss provisions than were required in the 2nd quarter last year.
The impacted banks increased the number of … (14 comments)
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bank failures: Bank worries continue - 08/20/08 06:48 AM
There have been several posts and articles about troubled banks and federal regulators increasing staff to manange upcoming failures. The last three banks to be closed were smaller banks that had evidently suffered liquidity problems from commercial real estate. Jim Crawford, of Atlanta, wrote about the most recent bank to fail.
Some high profile economists are now indicating that there will be one or two large banks to fail. These banks have already moved in some way to reduce their mortgage lending operations.
Former IMF chief economist Kenneth Rogoff is quoted as looking for a major failure to take place in the next … (26 comments)
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bank failures: New Bank Closures Announced - 07/26/08 02:10 PM
Reuters just reported that two more banks were closed today. Neither close to the size of IndyMac Bank. This is 7 bank failures this year. The two banks that were closed were immediately sold to Mutual of Omaha bank.
The reported number of troubled banks, as of March 08, is 90. The Rueters article indicates that regulators are expecting additional insolvencies this year. The troubled bank list is expected to be updated next month.
If I am reading the report correctly, this is the most bank failures since 2002, and equals the total number of failures in the 4 years from … (12 comments)
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bank failures: FannieMae, FreddieMac, IndyMac Troubles - A lot going on while I am focused on closing loans. - 07/12/08 08:36 AM
Troubles with FannieMae and FreddieMac and the rapid decline and ultimate federal take over of IndyMac Bank have headlined a very busy news week. There is a lot going on in the world and in the financial markets as I am concentrating on finding that next loan and trying to get it closed.
The IndyMac failure and take over seem to me to be less significant to the mortgage markets. IndyMac is the largest savings and loan failure ever, and the second largest financial institution to close. In the 11 days after Senator Charles Schumer, D-NY made public a letter he wrote to … (4 comments)
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Richard Smith FHA VA Rural Development in TN GA
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