WASHINGTON – The Federal Deposit Insurance Corp. will present a broad picture Tuesday morning of how banks and thrifts fared in the third quarter.
The agency's release of the Quarterly Banking Profile, and a briefing by acting FDIC Chairman Martin Gruenberg, will take place at 10:00 a.m.
In August, the FDIC reported second-quarter industry earnings of $28.8 billion, which was slightly lower than in the first quarter but 38% higher than a year earlier. A continued drop in loan-loss provisions was credited for the income boost, and in a further sign of banks' recovery the amount of institutions on the FDIC's "Problem" list went down for the first time in five years.
But even though loans in the second quarter increased for the first time since 2008, the growth was modest. Total loans rose just 0.9% from the previous quarter, and operating revenue fell 1.7% from a year earlier.