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Nation : FDIC Seizes 45 More Failed Thrifts

From Times staff and wire service reports

The Federal Deposit Insurance Corp. today took control of 45 more failed savings and loans in eight states, bringing the total under the agency’s control to 118 thrift institutions in 24 states

As an interim step, President Bush is having the agency, which regulates commercial banks, take over the sickest S&Ls;, with the goal of minimizing losses while Congress considers the Administration’s proposal to rescue or close such institutions.

The 45 institutions in today’s action, including 21 in Texas and nine in Colorado, had assets totaling $13.6 billion. None of the thrifts were in California.


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