FDIC, OTS TEAM UP TO PROVIDE BRANCH DATA ON THE INTERNET
FOR IMMEDIATE RELEASE PR-55-97 (8-7-97)
Media Contact: FDIC: Jay Rosenstein 202-898-7303
OTS: William Fulwider 202-906-6913
The Federal Deposit Insurance Corporation (FDIC) and the Office of Thrift Supervision (OTS) today unveiled a new Internet service that, for the first time, makes industry branch information available to the public in one place.
For years, the FDIC and OTS separately published information about branches and deposits at insured banks and thrifts, respectively. The data are obtained from annual branch office surveys as of June 30th of each year. In order to make this information more useful, the two agencies agreed to combine their databases and make the material easier to obtain and evaluate.
The combined database currently allows users to search for information about any of the 81,000-plus U.S. offices with FDIC-insured deposits surveyed as of June 30, 1996. In general, Internet users can search for office deposits by institution, state, county or city.
The general public, regulators, and members of the banking industry are expected to benefit from the new service. For example, consumers will be able to find the branches nearest to their home or office. A business reporter for a newspaper will be able to use the data to evaluate an institution's share of the deposits in a particular market area. Or, a banker considering starting or acquiring an institution will be able to obtain and analyze deposit information on existing branches in a particular market.
The new "Bank/Thrift Deposit Inquiry" service can be found on the FDIC home page (www.fdic.gov) in the "Data Bank" section or the OTS home page (www.ots.treas.gov) in the "Industry and Institution Data" section.
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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 11,337 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they were exposed. FDIC press releases and other information are available on the Internet via the World Wide Web at www.fdic.gov and
may be obtained through the FDIC's Public Information Center (800-276-6003 or (703) 562-2200).
The Office of Thrift Supervision, a bureau of the U.S. Treasury, regulates
and supervises the nation's thrift industry. OTS' mission
is to ensure the safety and soundness of thrift institutions
and to support their role as home mortgage lenders and providers
of other community credit and financial services. For copies
of OTS news releases or other documents, call PubliFax at
202-906-5660 or visit the OTS web page at www.ots.treas.gov.