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Financial Institution Letters

Letter to Stakeholders
Fourth Quarter 2007 Edition of FDIC's Letter to Stakeholders
FIL-8-2008
February 14, 2008


Summary: The FDIC has issued the attached Letter to Stakeholders from FDIC Chairman Sheila Bair, which reports on the FDIC's activities and year-end financial statistics for 2007.

Highlights:
Among the significant activities and accomplishments reported in this edition of the FDIC's Letter to Stakeholders are the following:

  • FDIC-insured commercial banks and savings institutions reported net income of $28.7 billion in the third quarter of 2007.
  • Estimated insured deposits increased by $9.7 billion in the third quarter of 2007. The Deposit Insurance Fund (DIF) balance increased by $527 million to $51.8 billion.
  • The FDIC, along with the other banking regulators, approved the final rule implementing the Advanced Approaches of the Basel II Capital Accord.
  • In the current issue of FDIC Quarterly, the FDIC outlines the analytical case for a systematic and streamlined loan modification process and common misconceptions about this approach.
  • The FDIC and the Korea Deposit Insurance Corporation (KDIC) signed a Memorandum of Understanding (MOU) which provides the framework for KDIC employees to gain an overview of the FDIC's operations.
Your feedback to the Letter to Stakeholders is encouraged, as are suggestions for improvement. For more information, visit the FDIC's Web site at www.fdic.gov.

Distribution:
FDIC-Insured Institutions

Suggested Routing:
Chief Executive Officer

Related Topics:
FDIC Key Indices

Attachment:
Letter to Stakeholders

Contact:
Senior Accountant Karen Flynn at kflynn@fdic.gov
or (703) 562-6188.

Printable Format:
FIL-8-2008 - PDF (PDF Help)

Note:
FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2008/index.html.

To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html.

Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-275-3342 or 703-562- 2200).




Last Updated 2/14/2008 communications@fdic.gov