Recalibrating 2H2008 FDIC Bank Closure Estimates

September 4, 2008

In the first two months of 3Q2008, the FDIC has rolled up five banks and thrifts, including the third largest failure in FDIC history (IndyMac Bank). This total exceeds the four institutions closed during 1Q and 2Q2008. In addition, the number of problem institutions rose to 117 as of 6/30/2008, up from 90 at 3/31/2008 and 57 at 12/31/2007. How will this escalation of troubled institutions affect the number of FDIC bank closures? Will there be adverse consequences to the FinTech vendor community?

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