Friday, August 14, 2009

Bloomberg reports that toxic loans could take 150 banks to point of no-return

A report by Bloomberg indicates that toxic loans 150 banks in US headed towards the point of no-return due to toxic loans...
More than 150 publicly traded U.S. lenders own nonperforming loans that equal 5 percent or more of their holdings, a level that former regulators say can wipe out a bank’s equity and threaten its survival.
The report is based on Bloomberg data and has excluded the 72 banks have already already gone under this year due to missed payments by consumers, builders and small businesses. It has also excluded the 19 banks that had failed the stress test of May.

No comments:

Post a Comment