- U.S. banking industry's earnings rose the second quarter, as banks set aside less money to guard against losses - Federal Deposit Insurance Corp.
- FDIC said that the industry earned $34.5 bln in Q2, up $5.9 billion from year ago period
- The amount banks set aside to guard against losses declined by $5 billion to five-year low
- Banks' net operating revenues were higher than a year earlier by $1.3 billion in Q2
- Banks boosted lending during the second quarter, trend which FDIC Acting Chairman Martin Gruenberg called "encouraging."