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ABA: The American Bankers Association
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ABA Statement on FDIC’s Quarterly Banking Profile

“The FDIC's latest quarterly report demonstrates that the banking industry remains healthy as it supports the U.S. economy amid rising inflation and headwinds from the Russian invasion of Ukraine. Credit quality is exceptionally strong and lending continues to gain steam following robust growth in the previous quarter. 

“Banks increased loan-loss provisions in the first quarter due to heightened uncertainty, which lowered industry net income. Nonetheless, banks are well capitalized and the industry remains well positioned to handle the challenges caused by the Fed’s efforts to combat inflation. Banks added jobs in the quarter, with industry employment rising by 19,000.”

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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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