FDIC’s problem list at 16-year high

The number of institutions on the Federal Deposit Insurance Corporation’s problem list reached 552 banks and saving institutions in the third quarter, its highest number in 16 years. The sharp spike in troubled banks, up from 416 on June 30, brings the number of institutions on the list to heights not seen since December 31, 1993, when there were 575 institutions designated as problem banks. The survey was dominated by downward trending indicators, including continuing declines in the total

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