NEW DATA COLLECTION OFFERS INSIGHT INTO
NONINTEREST INCOME ACTIVITY AT U.S. BANKS
FOR IMMEDIATE RELEASE PR-44-2002 (4-18-2002)
Media Contacts: David Barr (202) 898-6992
New detail on commercial banks' noninterest income, added to their quarterly financial reports in 2001, sheds light on the fastest-growing component of banks' revenues, according to a report released today by the Federal Deposit Insurance Corporation.
For nearly 25 years, noninterest income's share of banks' operating revenues has been growing. The report, which covers 2001 data, outlines the new categories of noninterest revenue and analyzes what these data show about the prevalence and relative importance of different products and services among the more than 8,000 commercial banks that the FDIC insures. These findings are contained in the latest edition of FYI.
FYI is an email bulletin covering FDIC analysis of emerging issues in banking and the economy. FYI is available on the FDIC's Web site at www.fdic.gov, where those interested in receiving each issue electronically may subscribe. A copy of FYI is attached.
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 9,613 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. The FDIC receives no federal tax dollars - insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov or through the FDIC's Public Information Center (800-276-6003 or (703) 562-2200).