At large US banks, credit loss reserves up 12% in Q3
Provisions for credit losses (PCLs) taken by the eight US global systemically important banks were $577 million higher in the third quarter than in Q2 2019, with JP Morgan’s increasing the most.
Aggregate PCLs across the lenders hit $5.4 billion for Q3, a 12% increase quarter-on-quarter and a 23% jump year-on-year.
JP Morgan’s totalled $1.5 billion for the three months to end-September, up 32% on the prior quarter and 60% on a year ago, when they stood at $948 million.
Wells Fargo posted
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Risk Quantum
7 days in 60 seconds
Compounding, venue disruptors and the Fed’s stress buffer
The week on Risk.net, January 11–17, 2020
Receive this by email