An FDIC quarterly report summary.
By Daniel at 24 November, 2009, 1:28 pm
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Hang on guys, this is going to be scary:
http://www2.fdic.gov/qbp/2009sep/qbp.pdf
- 96 less insured institutions (45 failed)
- noncurrent loans / total loans: 4.94% (up from 4.35% in Q2, 2.34% 08Q3)
- reserve for losses / noncurrent: $220.2B/$366.6B (up from $211.1B/$331.9B, $187.4B/$156.4B)
( so while noncurrent grew $180B reserves grew 64B, Whoooo! ratio is even worse in the last Q)
- the TOTAL SECTOR WIDE profit is $2.8B, and FDIC is going to charge them $45B in Q4. Whooo!
- deposit insurance fund is negative (-$8.2B), not a surprise.
- 552 banks on problem bank list ($346B assets)
So basically the sector made 2.8B profit while noncurrent loans grew $35B and reserves grew $9B. Whooo!
Total loans and leases shrank $210B, or 2.8% in one Q and $574.8B in a year. Actually total loans are shrinking faster recently!
Noncurrent loans, and loans 30-89 days past due are at $509.3B! (reserves at $220B)
… and so on.
This is going to be pretty ugly very soon!
- Roka
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