WASHINGTON — Following the extended failure wave and deficit in federal reserves, the Federal Deposit Insurance Corp. sounded decidedly more hopeful Tuesday about its future.

With banks profiting again, and credit quality continuing to improve, the agency said failure costs over the five-year period through 2014 were expected to total $45 billion, a 13% drop from a projection for the same period the FDIC made in October. Meanwhile, costs for the 2011-to-2015 period are expected to drop sharply, totaling an estimated $21 billion.

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