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ABA: The American Bankers Association

ABA Statement on FDIC’s Quarterly Banking Profile

“The FDIC's latest quarterly assessment of bank health reveals a strong banking sector that continues to provide support for the economy during a challenging period. Bank lending saw the largest year-over-year increase in more than 14 years, as banks of all sizes stepped up to provide credit to consumers and businesses. Despite economic headwinds, including rising inflation during the period, credit quality remained quite strong by historical standards.

“Total deposits fell for the first time in four years, signaling that the unprecedented surge since the onset of the pandemic is beginning to run off. With FDIC-insured deposits declining at a 2.8% annualized rate in the second quarter, the FDIC should reexamine its proposed increase in bank assessments, which assumed that elevated deposit balances would continue.  The new data suggest that the proposed assessment increase is not necessary to assure that the insurance fund achieves the statutory goal of 1.35% by September 2028.

“Given the uncertain economic outlook, banks will continue to prudently prepare for potential changes in credit quality. Overall, the industry remains on firm footing and well positioned to withstand potential headwinds resulting from the Federal Reserve’s ongoing efforts to fight inflation.”


About the American Bankers Association

The American Bankers Association is the voice of the nation’s $23.6 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $19.4 trillion in deposits and extend $12 trillion in loans.

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