Bank failures are going to continue at a fairly strong rate, FDIC Chair Sheila Bair told CNBC.
Amid speculation that the FDIC might need to ask the Treasury Dept. for help covering insured deposits, Bair said “I never say never” about borrowing from Treasury but hope to avoid it. “At this point”, she added, “based on our current projections I think we can continue to rely on the industry to fund the FDIC.”
Directing here attention toward bank health. Bair said that bank failures are going to continue at a fairly strong rate.
“Our projection right now is bank failures will continue at a pretty good clip through 2011. Again, we’re prepared for it, we’re ready for it,” she said. “The rate of healing the economy will drive the rate of healing of the banking sector.”
