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US large-loan bank losses triple to $53 billion
jay8h
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9-26-2009 7:41 AM
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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/bcc43625-4a3a-4f0f-bd07-b18b5961efde/837B11A7-978E-428A-B88C-1E0008F42AD9/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://finance.yahoo.com/news/US-largeloan-bank-losses-apf-3121886908.html?x=0&.v=3" href="http://finance.yahoo.com/news/US-largeloan-bank-losses-apf-3121886908.html?x=0&.v=3" style="font-size: 11px;">finance.yahoo.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://finance.yahoo.com/news/US-largeloan-bank-losses-apf-3121886908.html?x=0&.v=3"><H1>US large-loan bank losses triple to $53 billion</H1></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://finance.yahoo.com/news/US-largeloan-bank-losses-apf-3121886908.html?x=0&.v=3"><P>CHARLOTTE, North Carolina (AP) -- U.S. regulators said total losses from large loans at banks and other financial institutions nearly tripled to $53 billion in 2009, due to a deteriorating economic environment and continued weak underwriting standards.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://finance.yahoo.com/news/US-largeloan-bank-losses-apf-3121886908.html?x=0&.v=3"><P>According to an annual report released by the four federal bank-regulatory agencies on Thursday, credit quality deteriorated to record levels this year.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://finance.yahoo.com/news/US-largeloan-bank-losses-apf-3121886908.html?x=0&.v=3"><P>The report said total identified losses of $53.3 billion in 2009 surpassed last year's total of $2.6 billion, and nearly tripled the previous peak in 2002, when losses totaled $19.1 billion.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://finance.yahoo.com/news/US-largeloan-bank-losses-apf-3121886908.html?x=0&.v=3"><P>Since 2007, banks have been crushed by mounting losses tied to real estate. Rising mortgage defaults since have helped push the U.S. into a recession. While the economic downturn was first pegged to residential mortgage loans, banks and lenders are now having problems with commercial real estate.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;"> </td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/837B11A7-978E-428A-B88C-1E0008F42AD9/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>
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