The Business Times
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Oil rout: worse pain lies ahead for US banks

Published Wed, Jan 20, 2016 · 09:50 PM

    New York

    LOW oil prices are rattling global markets and destabilising economies around the world. They are also posing one of the first big tests to the US banking system since the financial crisis.

    Banks of all sizes are marking down the value of loans and setting aside reserves to absorb additional losses as oil producers struggle to pay their debts.

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