Saturday, February 24, 2007
Residential mortgage loans that were noncurrent (90 days or more past due or in nonaccrual status) increased by $3.1 billion (15.6 percent) during the fourth quarter. This increase followed a $974 million (5.2 percent) increase in the third quarter. Net charge-offs of residential mortgage loans totaled $888 million in the fourth quarter, a three-year high.The other highly significant item:
...total deposits grew by $247.2 billion during the quarter, the largest quarterly increase ever reported. The surge in deposit growth was aided by a record $90.2 billion increase in deposits in foreign offices, as well as by a $70.4 billion increase in savings and interest-bearing checking deposits, and a $56.6 billion increase in noninterest-bearing deposits.Git the whole thing here. Say a fond farewell to MEW, and let's have a big greeting to savings! In general, banks are being squeezed. Return on assets is dropping, and net interest margin is at an 18 year low. Deposits are up but lending is down.... Looks like payments into the FDIC insurance fund might have to increase soon.
Canst thou say "recession", Sebastian?
Labels: Banking Worries
Your posts are concise and invaluable.
Deflation is a state of mind. You believe that prices are going down so you don't buy.
The psychology of saving is probably similar.
Oh, brother, are we in for a wild ride.
Time to Pay The Piper.
STOCKS PLUNGE AFTER CHINA SELL-OFF.
"So It Begins..."
-- Ambassador Kosh, Babylon-5
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