You are here

Higher provisions seen at US banks exposed to energy loans

Raymond James analysts are forecasting oil prices at US$60 by the year-end. However, analysts at Goldman Sachs say oil could fall to US$20 a barrel.

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...