The Securities and Exchange Commission, Federal Deposit Insurance Corporation, Federal Reserve Board, Office of the Comptroller of the Currency and Office of Thrift Supervision have jointly issued the attached statement on the allowance for loan losses of depository institutions.

Attachment: Joint Interagency Statement (November 24, 1998)

Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 10,712 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed.

FDIC press releases and other information are available on the Internet at www.fdic.gov , and may also be obtained through the FDIC's Public Information Center (800-276-6003 or (703) 562-2200).