Troubles Grow Loan for banks and S. & L.
Property problems for banks and savings banks has deteriorated sharply from 1990 moved from South and North-West and the Middle East-Atlantic States, the government said today.
The Office of Thrift Supervision, said the 2342 savings institutions remain outside the government lost control of $ 965 million during the last three months of 1990 and $ 2.41 billion for the whole year.
An increase of 25 per cent of losses from the third to the fourth quarter was despite the sale of 39 insolvent in the economy long after the dissolution of the Trust Corporation, the Government Supervision Agency bailout.
Institutions bad loans as a percentage of all loans have risen steadily throughout the year, again, despite the elimination of the worst savings associations. This proportion was 2.34 at the end of the year, compared to 2.03 at the end of the first quarter. Unwillig predict
The director of the economy, Timothy P. Ryan, Jr., said lower interest rates should help the economies of the industry this year, but it was not ready to predict improvement.
“We are in this uncertain time, which could wait for the first quarter of 1991, particularly in regard to the economic slowdown and a weak property market,” he said.
In the meantime, the Federal Deposit Insurance Corporation announced Wednesday that the benefits to the nation 12338 banks grew by 6.5 percent to 16.6 billion dollars in 1990, $ 15.6 billion the year 1989.
But the increase in problems masked by the recession and lowering property prices.
Offender estate loans jumped to $ 36 billion at the end of 1990 from $ 22.5 billion a year earlier. Repossessed property rose to $ 19.8 billion, $ 12.5 billion during the year 1989.
For the fourth quarter, Bank profits were 31 percent to 1.39 billion dollars. Trouble in the East
Although the small number of banks rose from 1109 in fact the end of 1989 to 1046, the fact is that large institutions are in difficulty makes a great higher proportion of industry assets are in possession of maroden institutions.
Assets held by banks in question has jumped 74 percent to $ 235 billion in 1989, representing 7 percent of the industry, $ 409 billion, or 11 per cent.
“In effect, what happened, the problem is moved,” says Bert Ely, an analyst of financial institutions in Alexandria, Virginia “was amended by the Texas and now he is in New England. But quite frankly The worst thing, as they were during the year 1987. We are in a national recession, and we have broader concerns regarding the rest of the country. “Top-US losing l money
The banking sector in nine states and the District of Columbia lost money, with the worst red ink, $ 1 billion in Massachusetts. The other losing money United Arizona, Colorado, Connecticut, Maine, Maryland, New Hampshire, New Jersey and Rhode Island.
A year ago, the five countries with the highest percentage of bad loans for banks were, in descending order, Texas, Arizona, Oklahoma, Louisiana and Massachusetts.
The F.D.I.C. A separate report for the country of 473 savings banks, particularly in the North-East and invest heavily in real estate as investment banks. They lost $ 2.4 billion in 1990, more than three times the loss of $ 773 million in the year 1989. The fourth quarter was a loss of $ 1.2 billion, with 48 per cent of bodies of losing money.
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