105 or so banks have failed in the US this year. This is quite a statistic. Though we should say that this number may seem more catastrophic then it really is. To put this number in perspective if you go back to 1992 during the credit and loans crisis, there were 182 bank failures. so on that level things may not seem so bad.
Read More on Bank Failures
Another important point to bring up is that FDIC Insured accounts, which is basically any CD savings account or checking account, are insured up to 250,000.00 dollars. So in other words there is no need to panic or start a run on the banks. That would be bad.
As far as actual cost thus far to the FDIC guys, approximately 20 Billion so far but there are estimates that this figure will increase to about 100 Billion by the end of 2013.
Just in case you have been on vacation for the last two years the cause of all this financial ruin and bank failures stems from the collapse of the housing market. This and the mortgage and loan crisis including credit card debt which is just getting started and in my opinion is the biggest an most dangerous bullet.
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