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uk2bkk

34th Bank To Fail This Year (us)

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Do we care, are we too busy with all the other distractions?

The 34th bank to fail this year, BankUnited (BKUNA) had $12.8 billion in assets, $8.6 billion in deposits and 85 branches.

34th Bank failure

>The FDIC estimates it will take a $4.9 billion hit to its deposit insurance fund.

So they had 12.8b in assets and still managed to get down to net value of -4.9B to be covered by FDIC (printy printy?). That is some enormous asset writedown.

Coming to UK banking PLC? I wouldn't be suprised if our lot hold many of the same assets and are still avoiding a writedown to market value.

VMR.

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