Second Quarter Banking Performance
William Seidman the then outgoing chairman of the Federal Deposit Insurance Corportation (FDIC) held a news conference upon the release of a… read more
William Seidman the then outgoing chairman of the Federal Deposit Insurance Corportation (FDIC) held a news conference upon the release of a report by the FDIC on the condition of the nation’s banks during the second quarter of 1987. Mr. Seidman, who is planning to retire in October 1991, said the second quarter earnings by American banks were the weakest since 1987, but most banks were still showing a profit. The report stated the nation’s commercial banks earnings were 12 percent below the previous year, and 7.8 percent below the first quarter of 1991. Mr. Seidman said the nation’s banking industry “doesn’t look like it’s getting worse, but it doesn’t look like it’s getting a whole lot better.” After making opening remarks the chairman took questions from members of the press in attendance. close
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