The rigger's log

The FDIC having to close failed banks may seem like– ok, it is– old news, but it is still happening. It’s not above-the-fold news, though, because failures now are small, few, and far between.
They closed another today, costing the FDIC insurance fund a mere round-off error of $24 million added to $90 billion total.

More interesting, until today we’d had the longest gap, 12 weeks, without a failure since 2008. That’s worth noting as good news.

FDIC Bank closures, 2007 to October 17, 2014

This entry was posted on Friday, October 17th, 2014 at 4:38 pm and is filed under Macroeconomics. You can follow any responses to this entry through the RSS 2.0 feed. You can Add your comment, or trackback from your own site.