US, European banks to book more than $US50b against bad loans
London/Frankfurt | US and European banks are on track to book more than $US50 billion ($78 billion) of charges on souring loans in the first quarter, the biggest such provisions since the 2008-09 financial crisis, and an indication of the severe economic damage wrought by coronavirus.
The headline numbers mask dramatically different approaches across the industry, raising questions about how rigorous some banks are being in assessing possible future losses.
Financial Times
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