Banks’ Efforts to Turn Profits are Risky -OCC

The Office of Comptroller of the Currency’s (OCC) National Risk Committee (NRC) pronounced the financial position of federally chartered institutions “improved” last year in its Semiannual Risk Perspective issued on Wednesday. The federal banking system set a new record level of net income that was only $5 billion or 5 percent higher than the previous pre-financial crisis record set in 2006 and it took seven years and $1.5 trillion or a 20 percent growth in assets to achieve it. This, the report said, highlights the slow pace of the recovery.

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