November 26, 2009 at 00:49 AM EST
(JPM) Federal Deposit Insurance Corporation Fund in the Negative
In its quarterly report on the banks, issued on Tuesday, the Federal Deposit Insurance Corporation (FDIC) said that the deposit insurance fund used to protect customer accounts dropped by $18.6 billion during the third quarter of 2009 to a deficit of $8.2 billion, while banks earned only $2.8 billion as loan defaults continued to hurt [...] (JPM) Federal Deposit Insurance Corporation Fund in the Negative
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