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Old 07-15-2008, 02:13 PM
 
Location: Durham, NC
1,232 posts, read 3,506,755 times
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I am looking for the current FDIC "Problem Bank List" that the media and FDIC has referred to in various reports, but cannot locate it. Does anyone know where that can be found?

I did find the failed bank list on their site, but this list reports banks which have failed since October 1, 2000. I am looking for the list of potential and problem bank list.

It's probably in an obvious place, I just haven't found it. Thanks all!
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Old 07-15-2008, 02:39 PM
 
26,661 posts, read 40,585,083 times
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Check your banks finicial status and ratings, PLEASE!

--------------------------------------------------------------------------------

Bank Ratings

With Indy mac failing, it is wake up time folks. The most amazing part of this story is that despite it being obvious for months this bank would fail, over 10,000 of their customers had above the $100,000 FDIC insured amount in their accounts. Those people are screwed. Above is the link to the national site that will provide quarterly financials to most all banks and credit unions nation wide. It provides a simple star rating system and is recognized as being highly accurate. I suggest checking your bank's ratings. Notice that Indy Mac had a ZERO star rating since March!!!!!! Yet all these people kept above $100,000 on deposit? Crazy, stuff.

Oh, and be sure and tell us your bank and how they rated after you look it up. Anything below 3 stars I would suggest keeping a close eye on. Anything below two stars, I would suggest banking elsewhere, quickly!


This was posted by travelmate 38 and IMO a great post.
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Old 07-15-2008, 02:41 PM
 
26,661 posts, read 40,585,083 times
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Here is the link...when I copied his post the link didn't copy, sorry.

Bank Ratings
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Old 07-15-2008, 02:58 PM
 
Location: Durham, NC
1,232 posts, read 3,506,755 times
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Question FDIC "Problem Bank List"?

Quote:
Originally Posted by bentlebee View Post
Here is the link...when I copied his post the link didn't copy, sorry. Bank Ratings
This is very good information when it comes to ratings. I checked all of our credit unions and banks, and they are all listed as either 4 or 5 stars, at present.

However, the site pages are fairly bland and looking up either a credit union or bank can be a bit confusing since the pages look almost identical. I'm posting the link to the specific lookups in the event a person is looking for a credit union or a bank (you can't lookup a credit union on the bank search page and visa versa):

1. Bank ratings search for CREDIT UNIONS link.

2. Bank ratings search for BANKS link.

Seems like there's a lot of report selling on the rest of the site, but it's good to know ratings exist.

I still, unfortunately, could not find a link to the FDIC's "Problem Bank List". It may be based on the ratings, but having that official list is definitely what I would like in my hot little hands (or hot little screen).
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Old 07-15-2008, 04:52 PM
 
939 posts, read 3,130,099 times
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Quote:
Originally Posted by CaliBoy View Post
I am looking for the current FDIC "Problem Bank List" that the media and FDIC has referred to in various reports, but cannot locate it. Does anyone know where that can be found?

I did find the failed bank list on their site, but this list reports banks which have failed since October 1, 2000. I am looking for the list of potential and problem bank list.

It's probably in an obvious place, I just haven't found it. Thanks all!
The list is kept secret to prevent a run on those banks.
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Old 07-15-2008, 05:42 PM
 
Location: Durham, NC
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Quote:
Originally Posted by iGlenn View Post
The list is kept secret to prevent a run on those banks.
Haha, funny. But, then again, no.

Seriously, though, it exists and someone must have access to the information on this list as I can't imagine it not being public record.
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Old 07-15-2008, 06:14 PM
 
Location: Great State of Texas
86,068 posts, read 74,627,262 times
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That list is not public information.

Another site is Bankrate.com -- Safe & Sound (tm): Bankrate's free rating system for banks, thrifts, credit unions
With bankrate 5 is good and 1 is bad.
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Old 07-15-2008, 06:15 PM
 
939 posts, read 3,130,099 times
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Quote:
Originally Posted by CaliBoy View Post
Haha, funny. But, then again, no.

Seriously, though, it exists and someone must have access to the information on this list as I can't imagine it not being public record.
Why do you think you can't find the list? It's because it really is a big secret.

See this quote from a New York Times article.

"Even though losses tend to be heaviest on those least able to afford them, Mr. Young said, it would be unwise for the F.D.I.C. to begin publicizing its list of troubled banks, because it would create needless alarm about banks that are troubled but will not fail. Closely Guarded Secret."

http://query.nytimes.com/gst/fullpag...pagewanted=all

Edit: The article is from 1992 but that doesn't change the fact that the list is still a secret.
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Old 07-15-2008, 06:54 PM
 
Location: Durham, NC
1,232 posts, read 3,506,755 times
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Quote:
Originally Posted by HappyTexan View Post
That list is not public information.
Another site is Bankrate.com -- Safe & Sound (tm): Bankrate's free rating system for banks, thrifts, credit unions
With bankrate 5 is good and 1 is bad.
Thanks, HappyTexan, for the helpful link! Looks like good information.

Quote:
Originally Posted by iGlenn View Post
Why do you think you can't find the list? It's because it really is a big secret.
See this quote from a New York Times article.
"Even though losses tend to be heaviest on those least able to afford them, Mr. Young said, it would be unwise for the F.D.I.C. to begin publicizing its list of troubled banks, because it would create needless alarm about banks that are troubled but will not fail. Closely Guarded Secret."

U.S. Shift On Deposit Insurance - New York Times

Edit: The article is from 1992 but that doesn't change the fact that the list is still a secret.
Wow. You weren't kidding, iGlenn. I thought you were simply being humorous.

Nevertheless, even though we're talking about a citing from 1992, I see no reason why such a 'secret' would not still be under protection by the FDIC. Now, I find it almost strange that the FDIC would even continue to publicize the existence of such a list or, for that matter, indicate how many troubled banks are currently on that list. Seems like the same people who would panic knowing the identities of the listed banks would just panic, anyway, and apply concern to their, otherwise, healthy non-troubled bank.

That pretty much answers my question, however. Unless posters want to discuss more the pros and cons of keeping such a secret from the public, that's all good with me.

Thanks, everyone!
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Old 07-15-2008, 08:22 PM
 
48,509 posts, read 86,079,672 times
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If they were join accounts it covers upot 200,000. But it is amzing how so mnay had over the limit even tho they could ahve spresd it around and been covered. You would think that having that kind of money they would ahve moire snap but appearently poeple that sold a house for example left the money in one individaul account.especailly since about 500 banks failed in the 80's.
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