Industry News

FDIC: Bank reserves not keeping pace with delinquencies

Federally insured institutions see earnings plunge 83%
Published on Feb 26, 2008

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by CareyBot

Federally insured banks and savings institutions saw fourth-quarter earnings plummet 83 percent — their lowest levels since 1991 — and failed to boost loss reserves as fast as borrowers became delinquent on loans, the FDIC reported today. Fourth-quarter net income ...