US authorities took possession of nine failed banks on Friday, the largest single day haul since the beginning of the financial crisis.
This brought the total number of failed banks in the US this year to 115, the largest annual level since 1992, with widespread expectations that more will follow before the end of the year.
The nine banks, all owned by the same Illinois holding company, had over 153 branches, combined assets of $19.4bn and deposits of $15.4bn.
By number, banks in Georgia account for one-fifth of all U.S. banks closing this year, with 20 failures, followed by Illinois with 19, California with 13, and Florida with nine.
The largest institution to fail in the current financial crisis is Washington Mutual, which had $307bn in assets when it went under in September 2008.
Despite improved risk appetite
FOS award limit increase
Relates to 136 million transaction reports
Ceremony will take place 13 November