While the roots of the financial crisis can be found in the nation’s residential housing sector, it’s now exposure to bad commercial real estate loans that’s battering banks’ balance sheets.
The research and analytics firm Trepp LLC released a new report Monday on recent U.S. bank failures and the drivers behind their demise.
In total, 11 banks failed during the month of October – up sharply from six in September and seven in August. The count through October is 85 failures year-to-date. Trepp says that puts the annualized pace at just over 100 for the full 2011 calendar year.
Read more at Commercial Real Estate Exposure Pushes 11 More Banks to Insolvency:
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