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US failed banks list increases

US failed banks list increases

24 October 2009 08:04 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. Seven more regional banks were closed in the United States on Friday increasing the list of failed banks to 106 this year, APA-Economics reports. Three banks were closed in Florida, others â€“ in Wisconsin, Georgia, Illinois and Minnesota. Total assets of the failed banks are more than one billion dollars.

The US banking system faced with such losses in 1992 and 181 banks were closed as a result of credit and saving crisis. The problems of mortgage and credit markets caused closing of 25 banks in the United States last year while only three banks failed in 2007 before the crisis.

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