One more bank was closed down this week in US, taking the cumulative year 2010 total to 20. In the month of August 2009, the US FED released a report stating that over 450 US banks are working with inadequate capital levels.
And analysts are expecting at least 20% of these banks to close down during the coming months. And in the year 2009 over 130 US banks were closed down due to the economic turmoil.
2010 US bank closure hits 20