Giant loans may turn out for U.S. banks next surge problems, writes The Wall Street Journal.
According to the report of federal regulators in the U.S. Shared National Credit, banks and other financial and credit institutions threaten loss of $ 53 billion loan in the amount of $ 20 million or more, which have been funded at least three banks. The level of losses on these loans may exceed three times the previous record set in 2002, and be more than the total losses over the past 8 years.
Such loans are used to finance projects in the field of commercial real estate transactions MA and other large-scale enterprises.
many banks in the third quarter will have to increase accruals to cover possible losses.
This is catastrophic results. Banks will have to build up the reserves that have a significant impact on their statements for the third quarter, - said the banking sector analyst from RBC Capital Markets, Gerard Cassidy.
Most are expected to suffer major regional banks, who willingly participated in syndicated lending to mid-2007, when the problem emerged in the U.S. mortgage market. Some of these banks have informed the regulators about expected credit losses in the tens or hundreds of millions of dollars. For example, Fifth Third Bancorp of Cincinnati expects loan losses of $ 110 million for the third quarter.
Total
regulators reviewed the loans in the U.S. at $ 2.9 trillion. About 38% of these funds issued by foreign banks. The share of hedge and pension funds, insurance and other financial companies (excluding banks) accounted for 21% of all loans and the entire 47% of problem loans.
At the auction on Thursday, 24 September, the U.S. currency showed fairly strong growth against its main rival - the euroThroughout the day will be held Summit G20 - markets are still waiting on the world leaders taking a significant decisionToday in the U.S. is expected to: orders for durable goods, the statement of Barack Obama, the sale of new housingDollar depreciated - day review of the cash marketsSold: default Naftogaz Ukraine will notFrom 18 to 25 September the rental rate on one-room apartments of Kiev have raised on 0,2%Investors cancel unionsTrading volume on the market of government securities amounted to 21.86 billion rublesAgainst the background of the G20 summit the most vulnerable look some of the tools in commodity markets - especially the energy
U.S. banks are threatening loss of $ 53 billion syndicated loan
Giant loans may turn out for U.S. banks next surge problems, writes The Wall Street Journal.
According to the report of federal regulators in the U.S. Shared National Credit, banks and other financial and credit institutions threaten loss of $ 53 billion loan in the amount of $ 20 million or more, which have been funded at least three banks. The level of losses on these loans may exceed three times the previous record set in 2002, and be more than the total losses over the past 8 years.
Such loans are used to finance projects in the field of commercial real estate transactions MA and other large-scale enterprises.
many banks in the third quarter will have to increase accruals to cover possible losses.
This is catastrophic results. Banks will have to build up the reserves that have a significant impact on their statements for the third quarter, - said the banking sector analyst from RBC Capital Markets, Gerard Cassidy.
Most are expected to suffer major regional banks, who willingly participated in syndicated lending to mid-2007, when the problem emerged in the U.S. mortgage market. Some of these banks have informed the regulators about expected credit losses in the tens or hundreds of millions of dollars. For example, Fifth Third Bancorp of Cincinnati expects loan losses of $ 110 million for the third quarter.
Total
regulators reviewed the loans in the U.S. at $ 2.9 trillion. About 38% of these funds issued by foreign banks. The share of hedge and pension funds, insurance and other financial companies (excluding banks) accounted for 21% of all loans and the entire 47% of problem loans.
At the auction on Thursday, 24 September, the U.S. currency showed fairly strong growth against its main rival - the euro
Throughout the day will be held Summit G20 - markets are still waiting on the world leaders taking a significant decision
Today in the U.S. is expected to: orders for durable goods, the statement of Barack Obama, the sale of new housing
Dollar depreciated - day review of the cash markets
Sold: default Naftogaz Ukraine will not
From 18 to 25 September the rental rate on one-room apartments of Kiev have raised on 0,2%
Investors cancel unions
Trading volume on the market of government securities amounted to 21.86 billion rubles
Against the background of the G20 summit the most vulnerable look some of the tools in commodity markets - especially the energy