The pace of U.S. bank failures has slowed sharply since peaking in 2010 with 157. Since the start of 2008, the year the financial crisis erupted, 465 banks have failed. But their depositors haven't lost any money. The Federal Deposit Insurance Corp. insures accounts up to $250,000 per depositor per bank.
Some numbers related to the bank failures:
— From 2008 through 2011, bank failures cost the federal deposit insurance fund an estimated $88 billion. The FDIC expects failures from 2012 through 2016 to cost about $10 billion more. The insurance fund is replenished by fees paid by banks. The fund fell into the red in 2009. But with failures slowing, its balance turned positive in the second quarter of last year. It stood at $25.2 billion as of Sept. 30.
— There were 7,181 federally insured U.S. banks as of Sept. 30, down from 8,533 on Jan. 1, 2008. The ranks have been thinned by closings and mergers.
—The 157 failures in 2010 were the most in any year since the height of the savings and loan crisis in 1992. The wave of collapses started in 2008 with 25. The number jumped to 140 in 2009. Ninety-two banks failed in 2011. So far this year, 51 have failed.
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