Large U.S. banks like JPMorgan Chase and Citigroup have been warned about putting aside too little money to guard against loan losses, says Financial Times.
Large U.S. banks like JPMorgan Chase and Citigroup have been warned about putting aside too little money to guard against loan losses, says Financial Times.
Thomas Curry, comptroller, said yesterday he’s worried banks have only been reporting higher earnings over the last few years because they’ve been releasing their loan-loss reserves, rather than having actually earned more.
FT suggests his remarks “could herald a tougher supervisory regime for banks.” Read more.
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