Showing posts with label continues. Show all posts
Showing posts with label continues. Show all posts
Saturday, January 25, 2014
Trade Gap Continues to Narrow
The trade gap narrowed by $1.8 billion in September according to a Bureau of Economic Analysis report released this morning. September’s trade deficit stood at $43.1 billion, falling from a downwardly revised $44.9 billion reported in August. This is the third consecutive month of decline and puts the trade deficit at its lowest level since December 2010.
Solid growth in exports and a modest rise in imports led the deficit to narrow. Exports rose by 1.4%, marking the third straight month of growth. Imports increased as well for the first time in four months but only by a meager 0.3%.
The goods deficit narrowed $2 billion to $58.9 billion. The entire narrowing in the goods deficit was due to the nonpetroleum balance, as the petroleum deficit rose by $0.4 billion.
The services surplus shrank by $0.2 billion to 15.8 billion. Despite the decline, the service surplus is up by $1.8 billion year-to-date.
Read the release.
ReadThe RestEntry..
Solid growth in exports and a modest rise in imports led the deficit to narrow. Exports rose by 1.4%, marking the third straight month of growth. Imports increased as well for the first time in four months but only by a meager 0.3%.
The goods deficit narrowed $2 billion to $58.9 billion. The entire narrowing in the goods deficit was due to the nonpetroleum balance, as the petroleum deficit rose by $0.4 billion.
The services surplus shrank by $0.2 billion to 15.8 billion. Despite the decline, the service surplus is up by $1.8 billion year-to-date.
Read the release.
Sunday, October 27, 2013
Industry Continues to Regain Strength in Face of Challenges
The FDIC released its Quarterly Banking Profile today, that highlighted the strength of the industry in light of difficult conditions.
“While economic difficulties remain, higher capital levels, increased liquidity and lower losses signal a positive trajectory as the banking industry continues to gain strength.”
Increased Business Lending
“Banks are aggressively seeking out borrowers with a strong capacity to repay loans. Slow economic growth and high levels of uncertainty are still restraining lending, but that tide is beginning to turn. Business lending was particularly strong, increasing 10 percent compared to the same period a year ago. This uptick signals increased optimism about the broader economy, as businesses become more willing to take on debt and consider expansion.”
Record Capital Ratios
“The industry continues to put loan loses behind it and plow earnings back into capital. Capital backs every loan made and record capital ratios demonstrate a firm foundation of financial health.
“Banks added over $24 billion in equity capital during the third quarter and $288 billion since 2008 when the financial crisis took hold. Total industry capital is almost $1.6 trillion. Banks also have set aside more than $197 billion in reserves to cover possible loan losses. Capital plus reserves gives a total buffer protecting the industry of almost $1.8 trillion. In addition, the industry’s capital-to-assets ratio – a key measure of financial strength – remains at an all-time high.”
Strong Bank Earnings
"You cant have a strong economy without having a strong, growing and profitable banking sector. The return to health is a critical first step toward rebuilding the economic vitality of the country."
Problem Banks and Loan Losses
“The considerable slowdown in bank failures and continuing decline in the number of troubled banks is a positive sign as our industry continues to regain its health. The FDIC is rebuilding reserves as the industry -- which is solely responsible for all the agency’s expenses -- paid about $14 billion in premiums over the last year.”
Read ABAs statement on FDICs Quarterly Baning Profile.
Read the FDICs Quarterly Banking Profile.
ReadThe RestEntry..
“While economic difficulties remain, higher capital levels, increased liquidity and lower losses signal a positive trajectory as the banking industry continues to gain strength.”
Increased Business Lending
“Banks are aggressively seeking out borrowers with a strong capacity to repay loans. Slow economic growth and high levels of uncertainty are still restraining lending, but that tide is beginning to turn. Business lending was particularly strong, increasing 10 percent compared to the same period a year ago. This uptick signals increased optimism about the broader economy, as businesses become more willing to take on debt and consider expansion.”
Record Capital Ratios
“The industry continues to put loan loses behind it and plow earnings back into capital. Capital backs every loan made and record capital ratios demonstrate a firm foundation of financial health.
“Banks added over $24 billion in equity capital during the third quarter and $288 billion since 2008 when the financial crisis took hold. Total industry capital is almost $1.6 trillion. Banks also have set aside more than $197 billion in reserves to cover possible loan losses. Capital plus reserves gives a total buffer protecting the industry of almost $1.8 trillion. In addition, the industry’s capital-to-assets ratio – a key measure of financial strength – remains at an all-time high.”
Strong Bank Earnings
"You cant have a strong economy without having a strong, growing and profitable banking sector. The return to health is a critical first step toward rebuilding the economic vitality of the country."
Problem Banks and Loan Losses
“The considerable slowdown in bank failures and continuing decline in the number of troubled banks is a positive sign as our industry continues to regain its health. The FDIC is rebuilding reserves as the industry -- which is solely responsible for all the agency’s expenses -- paid about $14 billion in premiums over the last year.”
Read ABAs statement on FDICs Quarterly Baning Profile.
Read the FDICs Quarterly Banking Profile.
Subscribe to:
Posts (Atom)