WASHINGTON — The Federal Deposit Insurance Corp. will provide an update on the industry's health Tuesday at a 10 a.m. briefing.
The agency's Quarterly Banking Profile will report bank and thrift earnings for the second quarter. In May, the agency said institutions had earned $29 billion in the first quarter, and net income had grown on a year-over-year basis for seven straight quarters.
Martin Gruenberg, the FDIC's acting chairman, will present the agency's findings and answer questions about the report.
The QBP will also report the status of the Deposit Insurance Fund at the end of the second quarter. In a Senate hearing last month on Gruenberg's nomination to become full-time chairman, he said the fund was in positive territory after seven consecutive quarters of being in the red, yet did not provide any further details.