The Federal Deposit Insurance Corporation (FDIC) recently released its annual Summary of Deposits (SOD) data, as of June 2023. The annual SOD data is the product of the FDIC’s annual survey of branch office deposits for all FDIC-insured institutions.
The FDIC’s data offers a comprehensive overview of the deposits totals for over 77,000 domestic offices operated by more than 4,600 FDIC-insured commercial and savings banks, savings associations, and U.S. branches of foreign banks.
The Summary of Deposits survey serves as a critical barometer of the financial health of FDIC-insured institutions. It provides unparalleled insight into the health and activity of the banks and financial institutions insured by the FDIC, crucial for decision making in both corporate and legal domains.
This summary serves to answer the pressing needs of corporate leaders and law professionals alike, seeking to navigate the financial landscape with accurate and up-to-date information on FDIC-insured deposits.
Law firms, corporations and financial experts will find the newly released data greatly beneficial for making informed analyses and strategic moves in an ever evolving financial landscape.
Details about the FDIC’s annual SOD data can be accessed at the original article published by Cadwalader, Wickersham & Taft LLP on JDSUPRA here.