TUCSON, Ariz. - Federal Reserve Board Vice Chairman Alan Blinder predicted Monday that the ranks of commercial banks would be thinned by 40% to about 6,000 banks by the year 2010.

In a speech to the U.S. Council on International Banking here, Mr. Blinder said his forecast of the on-going industry consolidation was based on Fed "guesstimates."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.