816 Thrifts Reported Not Up to Standards

About 800 of the nation’s 2,700 federally chartered thrifts failed to meet a crucial test of their financial health and could face regulatory action, a Florida research company said today.

Under new requirements imposed by the federal government Thursday, thrifts must have a higher capital cushion in relation to the size of their total loans outstanding. Those who failed the test will be given until Feb. 5 to come up with additional reserves, but many thrifts will ultimately be closed.

The research company, Bauer Financial Reports Inc., estimated that 816 thrifts would fail to meet the new capital guidelines. Bauer said its analysis was based on quarterly data for thrifts, as reported to federal regulators for the period ended June 30, the most recent figures available.