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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: loan-loss provision

loan-loss provision stories: 2 news summaries

Bank of America Loses
$2.2B as Loans Sour

Investment revenues up, but consumers default on nearly $10B

Oct 16, 09 8:02 AM CDT
(AP) - Bank of America Corp. lost more $2.24 billion in the third quarter, the company announced today, as loan losses kept rising. Those losses amounted to nearly $10 billion, providing further evidence that consumers are still struggling to pay their bills. The bank also added $2.1 billion to its... More »

MORE ABOUT:
Bank of America • earnings reports • Merrill Lynch • loans • corporate earnings • third quarter earnings • loan-loss provision • toxic assets

Banks Face New Loan Crisis: Rebuilding Reserves

'Provisions' may turn out not to be large enough

Apr 22, 08 12:17 PM CDT
(Newser) - Within Bank of America’s disappointing first-quarter earnings was an unwelcome harbinger for the banking industry, the Wall Street Journal reports. BofA’s results were dragged down by huge additions to its loan-loss provision, an expense many other banks will also record soon. Given current credit conditions, many banks will... More »

MORE ABOUT:
Bank of America • earnings reports • credit market • writedowns • investment banks • loan-loss provision

2 Stories


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