US regulators seize eight banks
US regulators yesterday seized eight banks with assets totalling more than US$6 billion, raising the tally this year to 51 failed banks and adding to the carnage of small institutions that is expected to peak this year.
US regulators seized three Puerto Rican banks on Friday and sold their deposits to other banks, costing the Federal Deposit Insurance Corp insurance fund $5.3 billion -- one of the largest hits in the banking crisis.