Biggest U.S. Banks Seen Adding to Reserves for Pain Yet to Come
- Trading again expected to be a big driver of banks’ revenue
- JPMorgan, Citigroup kick off third-quarter earnings on Tuesday
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When it comes to loan losses sparked by the Covid-19 pandemic, U.S. banks aren’t taking any chances.
The nation’s four biggest lenders probably set aside about another $10 billion for bad loans in the third quarter, according to analysts’ estimates compiled by Bloomberg, even though stimulus moves by the government and Federal Reserve have so far staved off a spike in missed payments.