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Problem Banks / Smith #487319

NBC Evening News for Thursday, Feb 05, 1976
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(Studio) Comptroller of Currency testifies before Senator Banking Committee
REPORTER: John Chancellor

(DC) Comptroller James Smith says 7 banks in danger of going broke. 28 banks have serious problems. [SMITH - says 7 banks with assets of $1.6 billion and deposits of $1.3 billion show weakness and adverse financial trends which threaten solvency.] [Senator William PROXMIRE - says Smith's statistics show problem to be greater than indicated.] [SMITH - says no agency can identify problem bank as comptroller can.] [PROXMIRE - says situation worsens.] [SMITH - says agency working on new exam. handbook. Trying to build better mousetrap.] Banks that go out of business could hurt corps. with big deposits. Bank customers not in danger due to $40,000 ins. on deposits.
REPORTER: Irving R. Levine

Chancellor, John;
Levine, Irving R.

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