2008 United States bank failures
The FDIC's satellite headquarters campus in Arlington is home to many administrative and support functions, though the most important officials work at the main building in Washington
Twelve United States banks have failed as of September 5, 2008, after only three failures in 2007 and none in 2006 or 2005. United States regulatory agencies close a bank when its capital levels are too low, or it cannot meet obligations the next day. IndyMac Bank was the second or third largest bank failure in United States history. William Isaac, former chairman of the Federal Deposit Insurance Corporation, predicts there will be "more failed banks this year.” Early in 2008, the FDIC, anticipating a string of bank failures in 2008, began hiring retirees from its division of resolutions and receiverships.
In late August, the FDIC reported that its list of 'problem banks' has risen to 117 banks, and it might have to ask the U.S. Treasury Department for more funds to cover an anticipated wave of new bank failures.
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