Wall Street stands empty as people stay away from the area due to the coronavirus on March 24, 2020 in New York City.Bank profits slid about 70% in the first quarter as banks diverted billions of dollars in profits to loan-loss reserves, the Federal Deposit Insurance Corporation said in aCash held to protect against soured loans jumped to $197 billion from $125 billion in the year-ago period as lenders braced for intense pandemic fallout.
The profit shock contributed to bank stocks' sharp first-quarter declines, but the bolstering of loss protections shows firms doing their job to mitigate a wave of bankruptcies, Jelena McWilliams, chairman of the FDIC, said in a statement. Just over half of FDIC-covered firms reported year-over-year net income declines, and the total share of unprofitable institutions jumped to 7.3%.
Hemos resumido esta noticia para que puedas leerla rápidamente. Si estás interesado en la noticia, puedes leer el texto completo aquí. Leer más:
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Monzo: Unicorn fintech bank raises fresh funding amid coronavirus - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »
The $25 billion coronavirus testing problem — no one wants to cover the cost - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »
Hospitals survived first wave of coronavirus: what they need for next - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. propublica UK experts say the low-dose Steroid treatment saves one third of most severe COVID19 cases... Steroid
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »
Masks will be 'optional' at Trump's first official rally during the coronavirus pandemic - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Wow 😳 Fine.
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »