- So far in 2010, the number of US bank failures has reached 25, a rate of two per week. This compares to 25 total bank failures for ALL of 2008, and three for 2007.
- The benchmark KBW Bank Index still stands 60% below its 2007 peak, while one-third of all US banks reported a net loss for 2009.
- The FDIC’s list of “problem” institutions rose from 552 to 702 from Q3 to Q4 of 2009.
- And each new day could bring a new, personally addressed letter to announce the name change of your financial institution.
Nico Isaac writes for Elliott Wave International, a market forecasting and technical analysis firm.
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