The final figures released before Sheila Bair, chairman of the Federal Deposit Insurance Corporation, relinquishes her role in early July point to a slight recovery for the US banking sector. In its first-quarter report released in May, the corporation announced that it expected the FDIC fund, which is used to protect depositors, to be back in the black by the end of June – the first time in seven quarters. At the end of the first quarter the fund had a negative balance of $1 billion, compared with a negative balance of $7.4
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