U.S. banks likely set aside $5 bln in Q3 reserves as recession risks grow
Written by Black Hot Fire Network on October 11, 2022
Oct 11 (Reuters) - The six biggest U.S. banks are expected to have set aside nearly $5 billion in the third quarter to cover future loan losses, Wall Street analysts said, as lenders brace for a potential global recession.
Profits at big banks got a boost last year as they released funds reserved for potential COVID losses. In the . . .
