Banks: It’s still not over, but nearly.

October 17th, 2014 by Rick Drain

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.

FDICBankClosuresChart2014-10-17

FDIC Bank closures, 2007 to October 17, 2014