The FDIC has released the 3Q08 Quarterly Banking Profile.
The headlines of the text give the flavour:
- More Institutions Report Declining Earnings, Quarterly Losses
- Lower Asset Values Add to the Downward Pressure on Earnings
- Margin Improvement Provides a Boost to Net Interest Income
- Loan Losses Continue to Mount
- Growth in Reported Noncurrent Loans Remains High
- Reserve Coverage of Noncurrent Declines
- Failure-Related Restructuring Contributes to a Decline in Reported Capital
- Liquidity Program Provides a Boost to Asset Growth
- Discount Window Borrowings Fuel a Surge in Nondeposit Liabilities
- Nine Failures in Third Quarter Include Washington Mutual Bank
The 2Q08 Report was previously noted on PrefBlog.