Magazine article Independent Banker

FDIC Offers Bank Information Online

Magazine article Independent Banker

FDIC Offers Bank Information Online

Article excerpt

The Federal Deposit Insurance Corp. now offers a new service that enables the public to acquire statistical information about your bank and others over the Internet.

With the new government service-called "Institution Directory" or ID service-Internet users can get statistics about your bank's income, expenses, reserves, loans and other key regulatory data.

For years, federal regulators have made this information available on paper or on magnetic tape, and for a fee. Now, however, the FDIC becomes the first of the four federal banking and thrift regulatory agencies to provide the data electronically over the Internet at no cost.

The online information system is expected to help anyone who wants quick and easy access to information about an individual institution. It provides information about each of the 11,670 FDIC-insured commercial banks, savings banks and savings and loan associations, including:

* several years of quarterly and annual statistics on income, expenses and other figures;

* key ratios of profitability and condition, such as return on assets and return on equity; and,

* other information about the institution, such as address and name of primary federal regulator. …

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