Bank losses revised up to $32B

WASHINGTON (Reuters) -- The U.S. bank industry posted a net loss of $32.1 billion in the fourth quarter of 2008, according to revised statistics released by the Federal Deposit Insurance Corp. Friday.

The FDIC had previously reported that the industry had posted a net loss of $26.2 billion - its first quarterly loss since 1990 - but significant amendments showing substantially higher charges for goodwill impairment prompted the agency to update the figures.

The decline in total equity capital was revised to $10.1 billion from a previously reported figure of $3.7 billion. The additional goodwill write-downs had no effect on the industry's regulatory capital, because goodwill is not included in regulatory capital.

The FDIC did not provide the names of the institutions which accounted for the largest losses.

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