FDIC to Hold Roundtable on Dodd-Frank Resolution Authority
The FDIC from 1-5 p.m. on Tuesday will hold a roundtable discussion on the implementation of the Dodd-Frank Act’s resolution authority for failing firms. The event is the first in a series of roundtable discussions with outside parties on Dodd-Frank implementation issues, and is part of the FDIC’s new open-door policy on regulatory reform rulemaking. The roundtables “will be designed to provide balanced public input throughout the rulemaking process and will be available for public viewing via webcast,” the agency said ... More
Industry Earned $21.6 Billion in Second Quarter
Banks and savings institutions earned $21.6 billion in the second quarter, $3.6 billion more than the previous quarter and $26 billion more than the industry’s $4.4 billion loss in 2009’s second quarter. It marked the highest quarterly profit since the third quarter of 2007.
A reduction in loan-loss provisions was the primary factor contributing to the improvement, FDIC officials said. While second-quarter provisions were still high, at $40.3 billion, they were $27.1 billion -- or 40.2 percent -- lower than a year earlier. Net interest income was $8.5 billion -- or 8.6 percent-- higher than a year ago, and noninterest expenses were $1.5 billion lower, they said.
Asset-quality trends also improved as troubled loans and leases fell for the first time since the first quarter of 2006. Charge-offs were $49 billion in the second quarter, down $214 million from a year earlier and the first time since the fourth quarter of 2006 that net charge-offs posted a year-over-year decline. Total loans and leases declined by $107.5 billion during the second quarter, and total assets fell by $136.2 billion. ... More
APPLICATIONS BEING ACCEPTED FOR VBA EXECUTIVE LEADERSHIP INSTITUTE
Applications are currently being accepted for the VBA Executive Leadership Institute. The VBA Executive Leadership Institute is a 7-month leadership development program designed to actively enhance the leadership, organizational and performance skills of the highly-motivated, high potential banker who is currently in or progressing toward a senior level position. Each of the seven, two-day sessions focuses on one or more critical success factors:
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