Among the significant activities and accomplishments reported in this edition of the FDIC's Letter to Stakeholders are the following:
Your feedback to the Letter to Stakeholders is encouraged, as are suggestions for improvement.
- On October 3, 2008, President George W. Bush signed the Emergency Economic Stabilization Act of 2008.
- On October 14, 2008, the FDIC announced the Temporary Liquidity Guarantee Program to strengthen confidence and increase liquidity in the banking system.
- FDIC-insured commercial banks and savings institutions reported net income of $1.7 billion in the third quarter of 2008, a decline of $27 billion from the amount earned in the third quarter of 2007.
- The Deposit Insurance Fund balance decreased by 23.5 percent ($10.6 billion) to $34.6 billion during the third quarter of 2008.
- As of September 30th, the reserve ratio was 0.76 percent, down from the 1.01 percent as of June 30th.
- On September 22nd, the FDIC launched a national campaign, featuring personal finance expert Suze Orman, designed to help consumers learn about the benefits and limitations of deposit insurance.
For more information, visit the FDIC's Web site at www.fdic.gov.
FDIC-Insured Institutions Highlights
Chief Executive Officer
FDIC Key Indices
Letter to Stakeholders
Senior Accountant Karen Flynn at email@example.com or (703) 562-6188.
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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).