Letter to Stakeholders Third Quarter 2007 Edition of FDIC's Letter to Stakeholders
FIL-91-2007 October 25, 2007
The FDIC has issued the attached Letter to Stakeholders from FDIC Chairman Sheila Bair, which reports on the FDIC's priorities and activities for the third quarter of 2007.
Among the significant activities and accomplishments
reported in this edition of the FDIC's Letter to Stakeholders
are the following:
FDIC-insured commercial banks and savings institutions reported net income of $36.7 billion in the second quarter of 2007.
The Deposit Insurance Fund (DIF) balance increased by $482 million (0.9 percent), bringing the fund balance to $51.2 billion at the end of the second quarter.
The federal financial regulatory agencies and the Conference of State Bank Supervisors issued the Statement on Loss Mitigation Strategies for Servicers of Residential Mortgages.
The FDIC - working through its new Alliance for Economic Inclusion initiative - and the NeighborWorks® Center for Foreclosure Solutions have partnered to promote foreclosure-prevention strategies for consumers at risk of foreclosure from subprime and nontraditional mortgage lending.
The FDIC and the Peoples' Bank of China signed a Memorandum of Understanding, forging an international working relationship to develop and expand methods of interaction on economic and financial issues.
Your feedback to the Letter to Stakeholders is encouraged,
as are suggestions for improvement. For more information,
visit the FDIC's Web site at www.fdic.gov.