/ Source: The Associated Press
The nation's banks lost $32.1 billion in the final quarter of last year, even worse than the $26.2 billion originally reported last month, federal regulators said Friday.
The Federal Deposit Insurance Corp. says "significant" revisions it received from banks also lowered the industry's net income for all of last year to $10.2 billion from $16.1 billion.
Rising losses on loans and eroding values of assets bit into the revenue of U.S. banks and thrifts in late 2008, causing them to post the first quarterly deficit in 18 years.
