Thursday, July 2, 2009

7 Banks Closed By FDIC In 1st Week Of July 2009

7 banks failed today, according to FDIC. That many banks failed in entire month of May, and this is just the 1st week of July.

The closures will cost FDIC $314.3 million. FDIC's reserve ratio as of March 31, 2009 was 0.27%.

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