|
Letter to Stakeholders
Subscribe
Printable Version
3rd Quarter - 2008
This edition of our Letter to Stakeholders highlights
the FDIC’s activities and accomplishments during the third quarter
of 2008. Despite the continuing downturn in the housing market, the on-going
turmoil in the nation’s financial sector and the resulting liquidity
crisis, the vast majority of FDIC-insured institutions remain well capitalized.
The FDIC, along with the Treasury and the Federal Reserve, has taken unprecedented
steps to bolster public confidence in our financial institutions and in the
U.S. economy. For more information about the FDIC, please visit our Web site
at www.fdic.gov.
Our Priorities
Depositor Protection
- On October 3, 2008, President
George W. Bush signed the Emergency
Economic Stabilization Act of 2008,
which temporarily increases the basic FDIC deposit insurance coverage limits
from $100,000 to $250,000 per depositor through December 31, 2009.
- On
October 14, 2008, the FDIC announced the Temporary
Liquidity Guarantee Program to strengthen
confidence and increase liquidity in the banking system. The new program
will, for participating entities, guarantee newly issued senior unsecured
debt of eligible institutions and will provide full deposit insurance
coverage for non-interest bearing transaction accounts in FDIC-insured
institutions, regardless of the dollar amount.
- On
October 7th, the FDIC Board voted to adopt
a restoration plan and issued a notice of proposed rulemaking
that
would increase the rates banks pay for deposit insurance,
while making adjustments designed to ensure that riskier
institutions bear a greater share of the proposed increase
in assessment rates.
- FDIC-insured
commercial banks and savings institutions reported net income
of $1.7 billion in the third quarter of 2008, a decline of $27.0 billion
(94.0
percent) from the $28.7 billion the industry earned in the
third quarter of 2007.
- The Deposit Insurance Fund balance decreased by 23.5 percent
($10.6 billion) to $34.6 billion during the third quarter of 2008,
a decrease of 33.2 percent compared to a year ago. This decrease is
primarily the
result of an $11 billion increase in estimated losses for future failures
recorded in the third quarter.
- As of September 30th, the reserve ratio was 0.76 percent,
down from the 1.01 percent as of June 30th.
Mission Support
- On September 22nd, the FDIC launched a national campaign designed
to help consumers learn about the benefits and limitations of deposit
insurance. The campaign’s public service announcements feature personal
finance expert Suze Orman. The public is encouraged to visit www.myFDICinsurance.gov -
where consumers can use EDIE the Estimator, an online tool that provides
customized information about their insured accounts.
|
Our Key Indices
Most Current Data1
|
| Insurance |
| Updated Quarterly ($ Billions) |
| |
| 9,251 |
9,037 |
8,871 |
8,755 |
8,570 |
8,394 |
| $8,953 |
$9,887 |
$10,713 |
$11,771 |
$12,726 |
$13,613 |
| $3,414 |
$3,559 |
$3,831 |
$4,100 |
$4,243 |
$4,544 |
| $45.6 |
$47.0 |
$48.4 |
$50.0 |
$51.8 |
$34.6 |
| 1.34% |
1.32% |
1.26% |
1.22% |
1.22% |
0.76% |
| 116 |
95 |
68 |
47 |
65 |
171 |
| $30.3 |
$25.1 |
$20.9 |
$4.0 |
$18.5 |
$115.6 |
| YTD |
| Total Number of FDIC Supervised Institutions |
5,210 |
5,148 |
| Bank Examinations: |
| Safety and Soundness |
1,706 |
1,827 |
| Compliance and CRA |
1,347 |
1,331 |
| Insurance & Other Applications Approved |
2,304 |
1,998 |
| Formal & Informal Enforcement Actions |
300 |
349 |
| Receiverships |
| YTD ($ Millions) |
| Deposit Insurance Fund |
| |
| 24 |
22 |
-8% |
25 |
30 |
20% |
| $321 |
$2,343 |
630% |
$2,085 |
$9,481 |
355% |
| $47 |
$221 |
370% |
$56 |
$432 |
671% |
| $252 |
$232 |
-8% |
$252 |
$844 |
235% |
| Deposit Insurance Fund |
| |
| $234 |
$1,088 |
365% |
$404 |
$1,969 |
387% |
| $1,315 |
$1,269 |
-3% |
$1,955 |
$1,795 |
-8% |
| $1,062 |
($7,196) |
-778% |
$1,589 |
($17,825) |
-1222% |
| ($76) |
$10,746 |
N/M |
$57 |
$22,676 |
N/M |
| |
| |
| $1,247 |
$1,067 |
$150 |
$30 |
4,827 |
5,621 |
| $854 |
$759 |
$74 |
$21 |
|
|
|
