Magnesium stabilized ultra low soda decomposition catalyst

A rare earth free, ultra low soda, particulate fluid catalytic cracking catalyst which comprises a reduced soda zeolite having fluid catalytic cracking ability under fluid catalytic cracking conditions, a magnesium salt, an inorganic binder, clay and optionally, a matrix material. The catalytic cracking catalyst is useful in a fluid catalytic cracking process to provide increased catalytic activity, and improved coke and hydrogen selectivity without the need to incorporate rare earth metals.