Answer:
this got me a 100%
Step-by-step explanation:
By the late 1970s the federal Office of the Comptroller of the Currency's examinations indicated that Penn Square Bank was overextended. When oil prices dropped in 1981, the situation quickly turned desperate. Depositors withdrew $50 million in May 1982, and by July examiners knew the bank could not survive. They spent the Fourth of July weekend setting up the closure of Penn Square and forming a new bank so that the Federal Deposit Insurance Corporation (FDIC) could pay the $207 million that was due to insured depositors. Uninsured deposits of $163 million were not paid.
The oil loan shares caused problems for numerous other banks and precipitated a crisis in the entire banking system.