FDIC Increasing Staff for Expected Increase in Bank Failures
The FDIC is starting to increase its staff for what it expects to be a large number of bank failures.
Currently, the FDIC has 4,600 employees. It is hiring 70 new employees and bringing back 70 retirees.
The FDIC's Atlanta regional office, which covers seven states from West Virginia to Florida, also recently boosted its bank examiner and professional staff by about 10 percent, to about 300.
The agency is also expected to soon raise the insurance premiums it charges banks and thrifts to begin rebuilding its reserves.
The list that the FDIC maintains of "problem" banks totaled 90 institutions with $26.3billion in assets at the end of March. The confidential list is expected to be much higher when an updated version is released tomorrow.
Monday, August 25, 2008
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WHAT'S IN YOUR WALLET?
NEWSWIRE--A Kansas bank has become the ninth closed by federal regulators this year, amid bad real estate loans and falling housing prices.
Not dollars or drachma or krona or kips,
No sheqel or shilling or rand,
Not ruble or rupee or money in clips:
No sawbuck, a fifty, a grand.
Not penning or fenning or guilder or gold,
No euro or florin or francs,
What we're counting today is not bills that will fold,
Light verse, ripped from the headlines
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