The fifth bankruptcy of the United States is about to be put on a banking boom

BCC, Beijing, November 2 (1st) news that the U.S. 's largest commercial bank, CIT Group Inc., was mired in financial difficulties. (hereinafter referred to as "CIT"), possibly as early as local time November 1 in New York announced the application for bankruptcy protection.　　If the company filed for bankruptcy, it would become the fifth largest bankruptcy in U.S. history, after Lehman Brothers, Washington Mutual Bank, World communications and General Motors. CIT's bankruptcy could become the 116th U.S. Bank to fail this year. Recently, America's banking industry has staged a new wave of bankruptcies. As of last month 26th, the number of bank failures broke through the hundred mark. October 30, 9 banks collapsed in just one day.　　　　Economic analysts expect more banks to fail by the end of the year as some small and medium-sized banks have been hit badly by the financial crisis. US largest commercial bank to apply for bankruptcy protection yesterday, the news that CIT's proposed debt swap proposals may not be accepted, CIT will be the fastest in today and tomorrow to apply for bankruptcy protection. CIT also reached a preliminary agreement with its biggest bondholders, American billionaire Icahn and Goldman Sachs to end a long-running dispute over the issue to ensure a smooth restructuring.　　Icahn and Goldman Sachs will provide operating funds during the bankruptcy protection period. Icahn has been trying to force CIT to direct liquidation, but not with the support of other creditors.　　Therefore, Icahn finally agreed to restructure the plan, and promised to provide CIT 1 billion U.S. dollars loans. In the aftermath of the financial crisis, CIT was in financial trouble, and at the end of last year it received 2.3 billion of dollars in aid from the U.S. federal government through the Troubled Asset Relief Program. Since the second half of this year, CIT has once again reached out to the government for help, but the government does not think it is "too big to fail", thus refusing to hand.　　Since then, CIT has sought help from the private market, which has received 8.5 billion of billions of dollars in additional financing, but is still unable to improve its finances. Some data show that the 101-year-old CIT's current assets amounted to $71 billion trillion, as of June 30 this year, the debt has risen to 54.09 billion U.S. dollars.　　As a result, there is still no way to make up for the financing that is now available.　　9 of US banks fail in one day if CIT finally goes bankrupt, it will again flush the number of bank bankruptcies across the US to 116. In Friday, the US financial regulator announced the closure of 9 banks, including the California State National Bank, the biggest ever since the onset of the financial crisis.　　115 banks have been closed this year in the United States.　　Reuters commented that the failure of 9 banks in one day showed that non-performing loans from the subprime crisis continued to weaken the US banking entity. The 9 banks are located in California, Illinois State, Texas State and Arizona, State.　　As of September, the total assets of these banks were USD 19.4 billion, with a total deposit of USD 15.4 billion. The Bank of America branch, Minneapolis Bank of America, agreed to take over all of the bank's deposits and most of its assets. 9 BanksAll 153 branches will reopen October 31 under the "Minneapolis Bank of America" sign.　　Among the 9 banks, California National Bank is the largest, with more than $7 billion trillion of assets and 68 branches, Los Angeles's fourth-largest commercial bank and the fourth-largest bank in the United States since this year.　　The 9 most recently defunct banks are affiliated with the US FBOP bank holding company. Fbop Company was founded in 1990, to 2007 a total of 28 banks, is the largest private bank holding company in the United States. But the company is struggling with a lot of bad loans and investment failures.　　　　Under the agreement of the Federal Deposit Insurance Company and the Fbop company, the Fbop company escaped the fate of bankruptcy.　　More banks will fall before the end of the year. As the US economy slumps, unemployment rises, house prices plummet and loan defaults soar, many small and medium-sized US banks have collapsed, forcing the FDIC to spend 1 billion of billions of dollars in federal savings insurance funds to insure commercial banks ' savings clients, causing the fund to run into a deficit. The Federal Deposit Insurance Corporation predicts that the latest 9 banks will consume $2.5 billion trillion in federal savings insurance funds.　　This year, the company has spent more than 25 billion dollars on the Federal Savings Insurance Fund.　　With the failure of real estate development projects, real estate developers in arrears of loans, even the seemingly powerful developers, because many of the built properties can not sell out, banks are difficult to recover loans.　　Federal Reserve data show that as of September, Bank of America's commercial real estate loans amounted to 1.7 trillion U.S. dollars, accounting for about 15% of total bank assets. However, large banks are less affected by diversification, and many small and medium-sized banks, especially small ones, may be the biggest victims of debt problems. By the end of October, the number of banks that had closed this year had reached its highest level since the 1992-year deposit crisis.　　A total of 120 banks collapsed in 1992. Last year there were 25 banks in the United States, with only 3 in 2007.　　At the time of the 1989 deposit-and-loan crisis, the FDIC shut down 534 banks, equivalent to shutting down 10 banks a week. The Associated Press reported that the financial regulator's list of "troubled banks" that had been kept secret from 305 in the first quarter soared to 416 in the second quarter, the highest since 1994. Analysts expect more banks to fail before the end of the year.