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FDIC expects more bank failures

Bair warns banks to expect premium increase
Published on Sep 5, 2008

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by CareyBot

Federal Deposit Insurance Corporation Chairwoman Sheila Bair warned bankers to brace for higher insurance premiums as banks continue to fail and the the FDIC looks for ways to boost reserves to required minimums.

Addressing the Florida Bankers Association Thursday, Bair said 98 percent banks that hold 99 percent of total bank assets are "well capitalized." But 10 FDIC-insured banks have failed this year, and more will.