FDIC Expects 150 Bank Failures

More than 150 banks will fail in 1986 and more than 1,400 institutions are on the troubled list, the chairman of the Federal Deposit Insurance Corp. said today.

“So far this year, we have had 117 failures and assistance transactions,” L. William Seidman, FDIC chairman, told bankers attending the American Bankers Assn. annual meeting. “We will probably handle another 35 cases before the year is over.” Seidman said the agency “does not expect a dramatic decline in the number of failures next year. Our problem bank list continues to grow--it now totals 1,456 banks.”