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Banks Failing

I heard on TV that 90 banks will be failing by 2009. Where can I get a list of these banks?


There is no official list of banks that will fail. Any list you hear or read about in the news is the product of speculation after some analysis of bank financial data.

The FDIC has made estimates of the number of banks that might fail in that period, but it's a statistical estimate that doesn't include specific banks in a list. Any such official list, if published, would probably create a self-fulfilling prophecy and be the "kiss of death" for the listed institutions.

If you are concerned about your own deposits, you can and should make sure that you keep your balances under the FDIC insurance coverage limits in any given institution. You'll find a lot of other questions and answers about concerns for bank safety and soundness, and deposit insurance, in our special section on Bank Failures.

Published on BankingQuestions.com 8/09/08