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In this article we will analyze the Italian case in some detail to give tentative answers to the following questions: (1) Can the success of Italian banks be traced back to the privati- zation of the savings banks? (2) What impact did the privatization have on (a) the provi- sion of banking services to the population, (b) the provision of loans to SMEs, and (c) the intensity of competition in the banking sector? (3) In what respects is the Italian case com- parable to the German one? A short case study of a particularly successful Italian bank, UniCredit, will supplement the aggregate analysis. Finally, we will. | The Geographic Distribution and Characteristics of U.S. Bank Failures 2007-2010 Do Bank Failures Still Reflect Local Economic Conditions Craig P. Aubuchon and David C. Wheelock The financial crisis and recession that began in 2007 brought a sharp increase in the number of bank failures in the United States. This article investigates characteristics of banks that failed and regional patterns in bank failure rates during 2007-10. The article compares the recent experience with that of 1987-92 when the United States last experienced a high number of bank failures. As during the 1987-92 and prior episodes bank failures during 2007-10 were concentrated in regions of the country that experienced the most serious distress in real estate markets and the largest declines in economic activity. Although most legal restrictions on branch banking were eliminated in the 1990s the authors find that many banks continue to operate in a small number of markets and are vulnerable to localized economic shocks. JEL E32 G21 G28 R11 Federal Reserve Bank of St. Louis Review September October 2010 92 5 pp. 395-415. The financial crisis and recession that began in 2007 brought a sharp increase in the number of failures of banks and other financial firms in the United States. The failures and near-failures of very large financial firms such as Bear Stearns Lehman Brothers and American International Group AIG grabbed the headlines. However 206 federally insured banks commercial banks savings banks and savings and loan associations hereafter banks or 2.4 percent of all banks in operation on December 31 2006 failed between January 1 2007 and March 31 2010.1 Failed banks held 373 billion of deposits 6.5 percent of total U.S. bank deposits as of June 30 2006 Washington Mutual Bank alone accounted for 211 billion of deposits in failed banks. The recent spike in bank failures followed a period of relative tranquility in the U.S. banking industry. Between 1995 and 2007 on average fewer than four .
