The FDIC maintains a "watch list" of banks that may be experiencing financial problems. The Federal Deposit Insurance Corporation (FDIC) is a U.S. government entity that provides insurance for deposited accounts at member institutions and is charged with monitoring an helping minimize banking risks and the potential impact on the economy when a bank fails.http://www.fdic.gov/about/learn/symbol/index.html .This list may be called the watch list or troubled banks list. Unlike its list of failed banks, the FDIC does not make the names of the banks on the list available to the public.http://www.fdic.gov/bank/individual/failed/banklist.html The names are not released because the FDIC does not want individuals to pull money out of a troubled bank due to their list status. Pulling money from an unstable bank could push it to be a failed bank.http://www.thehardmoneypros.com/FDIC_bank_watchlist_failed_banks.shtmThey do, however, provide a list of outside bank rating services that can help consumers assess the financial stability of a variety of different banking institutions.
The FDIC does release a comprehensive database of financial statistics that can be used to analyze individual institutions, or banking industry segments. The report is issued approximately 55 days after the end of the fiscal quarter. Fiscal quarters end on March 31, June 30, September 30, and December 31.http://www2.fdic.gov/qbp/index.asp
White House Press Briefing
This video posted on YouTube presents a White House Press Briefing from January 21, 2010 held in the James S. Brady Press Briefing Room in the West Wing of the White House. Topics covered include new banking regulations that the Obama Administration would like to implement to stabilize the U.S. banking system. Banks that move from the FDIC bank watch list to the list of failed banks can cause financial disruption and economic stability. Stabilizing the banking sector and preventing overly risky practices may help reduce the number of banks that end up on the FDIC bank watch list.
FDIC Quarterly
The FDIC Quarterly is a publication from the Federal Deposit Insurance Corporation that summarizes the current banking industry results. The document reviews profits, losses, earnings. It also lists the number of banks listed on the FDIC bank watch list and compares the banking sector results with historical norms. In addition to status reports, articles regarding industry regulations, trends and information that can impact the banking system and banking stability are included. These reports are offered for free on the FDIC.gov website.http://www.fdic.gov/bank/analytical/quarterly/
Private Bank Watch Lists
The followig organizations provide lists of banks that have been evaluated based on statistcs released by the FDIC and that are considered to be at isk of failure. The banks on these lists are believed to likely be considered 'problems" by the FDIC as well, and also appear on the internal FDIC Bank Watch List.http://www.mortgagenewsdaily.com/wiki/FDIC_Watch_List_for_Banks_and_Thrifts.asp
Quotes
"These are challenging times...More banks will come on the list as credit problems worsen." —FDIC chairman, Sheila Bair
References
Fast Facts
-
Fact:
The FDIC does not publish the names or ratings of the banks that are on the "Watch List"FDIC: Bank Rating Services
-
Fact:
Over 80 U.S. banks have failed in 2010 through July 9
-
Fact:
21 U.S. banks failed in the first quarter of 2009
-
Fact:
23 U.S. banks failed in 2008
-
Fact:
Banks that fail are listed on the FDIC failed banks list
