FDIC estimates that about $51 billion in losses will occur as a result of the 177 bank failures to date. Below is a spreadsheet providing details of projected losses by bank. The data is courtesy of Subsidyscope, which conveniently supplies all of its data in open formats. I have prettied it up (just a little), sorted by estimated loss, and provided a total. About 1/5 of the total is for IndyMac Bank.
December 9, 2009
Geithner talks about expanding TALF to benefit CRE
I received an e-mail from Treasury this morning which contains a letter which Secretary Geithner has or is sending to Hill leadership on the administrations’s exit strategy for TARP. Most importantly for the CRE world, it holds out some hope that TALF (Term Asset Backed Securities Loan Facility) “may” be increased:
…”we may increase our commitment to the Term Asset-Backed Securities Loan Facility (TALF), which is improving securitization markets that facilitate consumer and small business loans, as well as commercial mortgage loans. We expect that increasing our commitment to TALF would not result in additional cost to taxpayers.”
We’ll see what they actually do, but this is definitely welcome news for those facing loan maturities in the next year or two and it might even help to stop or slow the free fall in commercial real estate pricing.
Letter below…
