Credit loss provisions at US G-Sibs 14% lower in Q2

Provisions for credit losses (PCLs) at the eight US global systemically important banks were $782 million lower over the second quarter of this year than the first, but up nearly 8% on the same period a year ago.

Total PCLs across the US G-Sibs totalled $4.8 billion at end-June, a 14% drop quarter-on-quarter, with all banks, bar Citi, reporting lower PCLs compared with Q1.

JP Morgan’s were $1.15 billion, down 23% on the quarter; Wells Fargo’s $503 million, down 41%; Bank of America Merrill

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