Friday, February 27, 2009

FDIC Insured Institutions: System Wide Loss

Interest Rate Roundup reports:

Every quarter, the FDIC releases a document called the Quarterly Banking Profile. It provides a wealth of data about banking industry losses, loan performance, failed banks, and more. The latest report (PDF Link) just hit the tape, and here are some of the details:

The banking industry as a whole lost $26.2 billion. That was a large swing from the year-ago profit of $575 million that the industry generated. It was also the first time since Q4 1990 that U.S. banks, in the aggregate, lost money.


And that -$26.5 billion would have been 50% worse had it not been for the $13.6 billion credit for income taxes (coming from those losses). If they can ever take them is another story.

includes Source: FDIC