Higher provisions seen at US banks exposed to energy loans

New York

US BANKS exposed to energy-related loans will need to set aside even more money than previously expected to cover potential losses as oil prices near 12-year lows.

Earlier on Wednesday, BOK Financial Corp became the third US bank over the past month to increase its cushion for energy loans, and analysts said there was more to come as earnings season kicks off this week. "It's going to get worse before it gets better," said Michael Rose, an analyst at financial services firm Raymond James Financial.