FHLBB Report on First-Quarter Losses by Thrifts Is Due Today
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WASHINGTON — The Federal Home Loan Bank Board, in an announcement due today, is likely to report that the nation’s federally insured savings institutions lost more than $3 billion during the first three months of this year.
The bank board, which regulates about 3,120 institutions, was scheduled to release the thrifts’ first-quarter losses at a news conference today. However, statistics already published by the board provide a good indication of what that figure will be, a bank board official said.
James Barth, the bank board’s chief economist, declined to disclose the loss number before its scheduled release, but he said savings institutions’ losses usually “bear a reasonably close relationship” to capital declines.
The board reported in May that the industry’s capital declined by $3.3 billion in the January-March period.
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