Systemic US banks put aside $5bn for credit losses in Q3
Citi put aside $2.3 billion in Q3, the most of the top lenders
Amounts stowed away to cover souring loans dropped sharply over the third quarter across the eight systemic lenders in the US.
Aggregate provisions for credit losses (PCL) taken by the banks in Q3 amounted to $5.4 billion, 85% less than in Q2. This equated to around 20% of aggregate net income for the quarter. In Q2, PCL amounted to a staggering 244% of net income.
Citi put aside the most loan
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 info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on Risk Quantum
Hang Seng LCR slumps to three-year low in Q2
LCR falls 58 percentage points as net cash outflows rise and HQLA declines
UAE, Qatari banks hit record risk density in Q2
Leverage exposure declines lift ratios as US and Chinese banks move lower
Basel G-Sib rule change could spare 24 banks reporting
Higher €350bn threshold would cut additional reporting pool by 60%
MMF Treasury holdings hit record $3.7trn in August
Funds increased direct UST investment 7.1% before September reversal
US corporate securities settlement failures hit four-year high
Primary dealers report $136 billion in failed settlements, second-highest weekly total since 2015
Securitisation exposures surge 80% at European banks as risk density falls
RWAs grow just 52% over four years as synthetic positions more than double
DZ Bank ditches slotting approach for project finance exposures
German bank transfers €8.6bn in RWAs to F-IRB methodology following regulatory approval
US banks cut commodity derivatives as equity books hit record
Commodity notional falls 6.3% as equity positions climb to $19.42trn
