Tweet
http://interestrateroundup.blogspot.com/
the most interesting thing to me is the 2nd point, loan loss provisions. I'm wondering how much this flows into m1, m2 & so on (what was the fractional reserve multiplier (and does this even matter anymore?), so what was the net reduction in "the emms"?)
from the blog entry::::
FDIC: Banking sector hammered in Q3
The latest Quarterly Banking Profile (QBP -- PDF link) from the FDIC was released today. This comprehensive document provides lots of juicy details about the performance of the U.S. banking sector. As you might expect based on the headlines we've been seeing lately, the news isn't that good. Some details:
* The banking sector earned a cumulative $1.7 billion in the third quarter, down 94% from $28.7 billion in the year-earlier quarter. That was the second-worst reading since Q4 1990 (behind Q4 2007). Almost six in 10 institutions reported a drop in profit, while about one in four reported a quarterly loss.
* Provisions for loan losses exploded to $50.5 billion from $16.8 billion a year earlier.
the most interesting thing to me is the 2nd point, loan loss provisions. I'm wondering how much this flows into m1, m2 & so on (what was the fractional reserve multiplier (and does this even matter anymore?), so what was the net reduction in "the emms"?)
from the blog entry::::
FDIC: Banking sector hammered in Q3
The latest Quarterly Banking Profile (QBP -- PDF link) from the FDIC was released today. This comprehensive document provides lots of juicy details about the performance of the U.S. banking sector. As you might expect based on the headlines we've been seeing lately, the news isn't that good. Some details:
* The banking sector earned a cumulative $1.7 billion in the third quarter, down 94% from $28.7 billion in the year-earlier quarter. That was the second-worst reading since Q4 1990 (behind Q4 2007). Almost six in 10 institutions reported a drop in profit, while about one in four reported a quarterly loss.
* Provisions for loan losses exploded to $50.5 billion from $16.8 billion a year earlier.