The Federal Deposit Insurance Corporation announced that the list of troubled banks have gone high at the end of 2009. The list has added 450 bank by the end of the year. In the beginning of the year the number was at 252 and by the end of 2009, it rose to 702, indicating it was US’ worst run of bank failures in previous twenty years.
It has put a lot of strain on the government administered insurance fund. Failing to do growing numbers and the bank facing threats, the insurance is witnessing deficit of funds to safeguard the customer deposits.
The FDIC has not disclosed the list of failing banks.
