Adam Shaprio on the Growing Concern of Rising Loan Loss Provisions

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INTERVIEW ON THE PRICE OF BUSINESS SHOW, MEDIA PARTNER OF THIS SITE.

Recently Kevin Price, Host of the nationally syndicated Price of Business Show, interviewed Adam Shapiro. Shapiro is an anchor at Yahoo Finance and a regular on the Price of Business.

On a recent Price of Business Show, Host Kevin Price and Adam Shapiro of Yahoo Finance discussed the growing concerns of banks when it comes to loan repayments. Some banks are taking unprecedented action and have implications to consumers and business.

The Financial Times notes “Citigroup has shored up its defences against soured loans as a “deterioration” in the economic outlook caused the US lender to reassess prospects for some of its commercial clients. The bank’s net income for the second quarter came in at $1.3bn, down 73 per cent from the year before, and was the lowest in six years. Loan loss provisions and write downs totalled $7.9bn in the quarter, the bank said on Tuesday. It marked the highest level since the global financial crisis a decade ago.”

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Citigroup isn’t unique, similar stories can be found from JP Morgan, Wells Fargo, and even small financial institutions.

Adam Shapiro is the anchor of the Yahoo Finance daily show, “On the Move.” He is an Emmy Award winning journalist and former Fox Business correspondent. He is a regular guest on the Price of Business show. Learn more at www.YahooFinance.com.

The Price of Business is one of the longest running shows of its kind in the country and is in markets coast to coast. The Host, Kevin Price, is a multi-award winning author, broadcast journalist, and syndicated columnist. He is Editor at Large for this site. Learn more about the show and its digital partners at www.PriceofBusiness.com.

CHECK OUT ADAM SHAPIRO’S VISITS ON THE PRICE OF BUSINESS SHOW HERE

LISTEN TO THE INTERVIEW IN ITS ENTIRETY HERE

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