by TonyLiberty
The largest US Banks are facing their worst Bad loan write-offs in 3 years. (Bad loan write-offs are loans that banks have given up on collecting. When a bank writes off a loan, it takes the loss on its balance sheet)
The increase in bad loan write-offs is a sign that credit quality is worsening.
Banks may be more reluctant to lend money if they are facing higher losses. This could make it more difficult for businesses and consumers to borrow money, which could slow economic growth.
Read more here: https://www.bloomberg.com/news/articles/2023-10-11/largest-us-banks-grapple-with-worst-write-offs-in-three-years
