Banks Brace for Bigger Losses After Oil Drops Below $30

  • More oil and gas losses possible in 2016, Wells Fargo CEO Says
  • Loan-loss reserves at major oil lenders exceeds $2 billion

Earnings: Are Big Banks Just Running in Place?

The Wall Street banks that financed the U.S. shale boom are facing growing losses as oil falls below $30 a barrel.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.