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4 FDIC Q. [i] (2010)

handle is hein.journals/fdicquar4 and id is 1 raw text is: 2010, Volume 4, Number 1 Quarterly Banking Profile: Fourth Quarter 2009 FDIC-insured institutions reported an aggregate profit of $914 million in the fourth quarter of 2009, a $38.7 billion improvement from the $37.8 billion net loss the industry sustained in the fourth quarter of 2008, but still well below historical norms for quarterly profits. More than half of all institutions (50.3 percent) reported year-over-year improvements in their quarterly net income. Almost one-third of all institutions (32.7 percent) reported net losses for the quarter, compared with 34.6 percent a year earlier. For the full year, banks reported net income totaling $12.5 billion-up from $4.5 billion in 2008. See page 1. Insurance Fund Indicators Estimated insured deposits (based on $250,000 coverage) increased 1.8 percent in the fourth quarter of 2009. The Deposit Insurance Fund reserve ratio fell to -0.39 percent, and 45 FDIC-insured institutions failed during the quarter. See page 15. Temporary Liquidity Guarantee Program The FDIC Board approved the Temporary Liquidity Guarantee Program (TLGP) in response to major disruptions in credit markets. The TLGP improves access to liquidity for participating institutions by fully guaranteeing non-interest-bearing transaction deposit accounts and by guaranteeing eligible senior unsecured debt. As of December 31, 2009, more than 86 percent of FDIC-insured institutions have opted in to the Transaction Account Guarantee Program, and 7,808 eligible entities have elected the option to participate in the Debt Guarantee Program. Approximately $834 billion in non-interest-bearing transaction accounts was guaranteed as of December 31, 2009, and $309 billion in guaranteed senior unsecured debt, issued by 84 entities, was outstanding at the end of the fourth quarter. See page 19. Measuring Progress in U.S. Housing and Mortgage Markets U.S. housing and mortgage markets have experienced historic distress over the past three years as evidenced by the significant decline in housing fundamentals. However, some signs of eventual recovery are beginning to emerge. This chartbook examines the housing and mortgage markets for tentative signs of recovery and evaluates those hopeful signs against the challenges that remain. See page 29. The views expressed are those of the authors and do not necessarily reflect official positions of the Federal Deposit Insurance Corporation. Some of the information used in the preparation of this publication was obtained from publicly available sources that are considered reliable. However, the use of this information does not constitute an endorsement of its accuracy by the Federal Deposit Insurance Corporation. Articles may be reprinted or abstracted if the publication and author(s) are credited. Please provide the FDIC's Division of Insurance and Research with a copy of any publications containing reprinted material.

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