Advertisement
Powered by MOMENTUM MEDIA
lawyers weekly logo
Lender

Credit crunch set to hit big US banks hard

3 minute read
The Adviser

US analysts are trimming fourth quarter estimates for the US’s major banks to account for capital market write-downs, loan loss reserve building and slower net interest margins, according to Reuters.

Analysts Sanford C Bernstein & Co have predicted a bad debt write down of US$12 billion (A$13.7 billion) for US banking giant Citigroup Inc, with the company expected to boost reserves for bad loans by as much as US$1 billion (A$1.14 billion).

Bank of America Corp and JPMorgan Chase are also expected to suffer write downs of US$5.5 billion ($A6.29 billion) and US$1 billion (A$1.14 billion) respectively.

 

default

JOIN THE DISCUSSION

You need to be a member to post comments. Become a member for free today!
You have 0 free articles left this month.
Register for a free account to access unlimited free content, or become a PREMIUM MEMBER to enjoy a wide range of benefits