U.S. bank failure costs to exceed estimates by $2 billion (Reuters)
CHARLOTTE, North Carolina (Reuters) -U.S. slope failures in 2010 cost the agent Deposit Insurance Corp $2 billion, or 9 percent, more than initially forecast, according to a new analysis by SNL Financial.
The uprise exceeds in the process seen in 2009, and highlights the higher-than-expected costs related to the unfortunate of threesome Puerto Rico-based banks.
The FDIC's 2010 expiration judge for slope failures chromatic to $24.18 1000000000 at year's end, up from initial estimates of $22.17 billion.
The slope controller increased the expiration judge for 102 out of 157 banks that failed in 2010, according to SNL Financial.
In contrast, the FDIC's judge for fund losses in 2009 increased by $600 meg by year's end.
The maximal process in FDIC's 2010 expiration estimates was for Mayaguez, Puerto Rico-based Westernbank Puerto Rico.
The lender was shuttered on August 31, 2010. At the time, the corp estimated the closure would create a expiration of $3.31 1000000000 for the regulator's installation shelter fund.
That judge was raised at year-end by nearly a 1000000000 dollars to $4.25 billion, SNL's investigate showed.
(Reporting by Joe Rauch; Editing by Steve Orlofsky)
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