September 15, 1987 |
U.S. banks lost $10.6 billion during the second quarter of 1987 and are headed toward showing the smallest profit since the Great Depression, the Federal Deposit Insurance Corp. said today. The record loss came because banks set aside an unprecedented $21.2 billion to cover potential losses from loans made primarily to other nations. Officials said most of the fear over loan losses stems from Brazil, which has not paid any interest on its commercial debts since February.
October 19, 1989 |
Unisys Corp. has entered the emerging market of digital image processing with two systems that will allow crisp images of checks and blueprints to be stored electronically. The company's Image Item Processing System will be available in the first quarter of 1990 for an average of $1.5 million to $3 million. Combined with the software Image Check Processing System, it will allow high-speed image processing of payment items for the banking industry.
May 25, 2004 |
Valley Bank of Moreno Valley, a four-branch Inland Empire financial institution, agreed Tuesday to be acquired by BBVA Bancomer, Mexico's largest bank, for about $16.7 million in cash. The purchase, expected to close in the third quarter, "is a pilot program" as Bancomer looks to expand in the U.S., said Bancomer spokeswoman Julissa Bonfante. Bancomer, a subsidiary of Banco Bilbao Vizcaya Argentaria, Spain's second-largest bank, will pay $5.
December 14, 1995 |
The banking industry posted record earnings of $13.8 billion in the third quarter, compared with $11.8 billion in the third quarter of 1994, the Federal Deposit Insurance Corp. said Wednesday. The third quarter earnings were higher than the previous record of $12 billion in the second quarter, the FDIC said. FDIC Chairman Ricki Helfer said the outlook for the banking industry "remains positive going forward."
February 8, 1991 |
A deep recession lasting a year or more could wipe out 440 banks, the chairman of the Federal Deposit Insurance Corp. said Thursday. But he expressed confidence that the industry is healthy enough to bolster the ailing deposit insurance fund. L. William Seidman told the House Budget Committee that his agency, which operates the insurance fund with premiums collected from banks, "can provide a plan to handle losses through late 1991 without any new legislation."
February 26, 1991 |
The insurance fund that backs the nation's troubled banking industry may seek a $10-billion loan to avoid a looming cash crunch, its chairman said Monday. Federal Deposit Insurance Corp. Chairman L. William Seidman, speaking to journalists at a banking industry conference, said the loan should be enough to see the fund through 1991. "But we ought to be looking at further plans for beyond that," Seidman said.
January 31, 1991 |
The head of the government agency that protects bank deposits said today that the giant insurance fund could be depleted by the end of this year if the recession is longer and deeper than currently expected. William Seidman, the chairman of the Federal Deposit Insurance Corp., said, however, that even if the more pessimistic scenario does develop, the government will be able to replenish the fund with larger contributions from the banking industry.