According to bank analysts surveyed by Bloomberg, it is anticipated that the nation's six largest banks, namely JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley, will collectively report write-offs amounting to approximately $5 billion for defaulted loans in the second quarter of this year. Additionally, these banks are expected to allocate an estimated extra $7.6 billion as a provision to account for potential loan defaults.
What about unrealized loans in the office sector? !!!! commercial?
https://www.ft.com/content/9a7e9746-516b-4d37-a966-97259ec8aca6
Now the context
According to the agency, banks reported profits of $64.4 billion, (in 2022) with increased net interest income compensating for rising reserves intended to protect against potential loan losses. However, profits experienced a decline of $6.0 billion or 8.5% compared to the previous year (2021).
https://www.investopedia.com/bank-profits-rise-despite-headwinds-6544793
Things are not ideal but not that problematic either.
[link] [comments] https://www.reddit.com/r/stocks/comments/14yh15r/us_banks_are_set_to_report_the_most_significant/
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