Until the end of the current crisis in the U.S. will go bankrupt even 150-200 banks, bringing the total number of victims among the banks exceed 300, U.S. analysts predict. This would increase the budget of the Federal Deposit Insurance Corporation (FDIC), which can take up to 25% of pretax profit of the banking industry in 2010. To avoid this, FDIC has already started to sell troubled banks to foreign competitors.Acheter Soma
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Since the beginning of this year in the U.S. went bankrupt 81 bank, and with a 25 credit institutions, collapsed in 2008, victims of the crisis were 106 financial companies. And, as analysts predict, their number will grow even tripled. Thus, as predicted Rochdale Securities analyst Richard Bove, bankruptcy can befall even banks 150-200. Chapter Meredith Whitney Advisory Group Meredith Whitney in a speech at a symposium on Saturday, the Fed also acknowledged the crisis in the banking sector, the loss of 300 credit organizations, noting that at risk are mainly small regional banks.
«FDIC decided to question the stability of large banks, but now have to do the same for second-tier banks, major problems for which will begin in 2010. The good news is that the problems of such banks will not have a critical impact on the economy ", - said RBC daily Aite Group analyst Doug Dannemiller.
Despite the fact that the number of collapses is not critical (in the banking crisis 80-90-ies of the last century bankrupt banks 200-300 a year), they threaten the very specific problems FDIC. According to Reuters, at the end of March in the FDIC insurance fund had $ 13 billion, while only three of the biggest bank failures this year (BankUnited, Colonial and Guaranty Financial) cost the federal corporation to 10.7 billion dollars to avoid deficit financing , writes in his report, Richard Bove, FDIC will have to impose additional charges to banks, which will be comparable in size with regular payments (11 billion dollars). As a result, as predicted by Mr. Bove, in 2010 deductions for FDIC may reach 25% pre-tax profit of U.S. banking.
Usually FDIC tries to find buyers for the banks that are on the verge of bankruptcy, and share with them the cost of salvation. However, according to Richard Bove, the main problem is that in the U.S. is not sufficiently healthy banks, ready to assume the burden of readjustment problem competitors. And to avoid the growth of payments on deposits of failed lending institutions, FDIC will be forced to turn to foreign banks or private equity funds. "Now every bank in the U.S. is busy putting in order their own balance sheets, and take on unnecessary risk no one wants", - believes Mr. Dannemiller. According to him, of course, that the FDIC is now looking for buyers among the investment community, hedge and venture funds, as well as among foreign banks with a presence in the United States. Note that the precedent of this kind already exists: Last Friday the assets of the bankrupt Guaranty Bank were acquired by an American owned subsidiary of Spanish bank BBVA. However, according to The Wall Street Journal, the acquisition of American banks, who were on the verge of bankruptcy, is also interested in "Daughter» BNP Paribas, Rabobank and Toronto-Dominion Bank.
