FDIC Revises Industry 4Q Loss to $32.1B

WASHINGTON — The industry suffered a wider loss in the fourth quarter than previously reported, the Federal Deposit Insurance Corp. said Friday.

Based on an amended Quarterly Banking Profile, the agency said the industry’s net loss in the quarter was actually $32.1 billion, versus the $26.2 billion first reported. The industry's 2008 income dropped 37%, to $10.2 billion.

The FDIC attributed the change to higher charges for goodwill impairments reported just after the QBP’s issue on Feb. 26.

In the fourth quarter, total equity capital fell by $10.1 billion, compared with the $3.7 billion first reported.

The agency said the additional goodwill write-downs did not affect regulatory capital, since goodwill is left out of that calculation.