Coming soon - Get a detailed view of why an account is flagged as spam!
view details
24
How will the collapse of oil prices impact the shale/financial sectors of America and its overall economic power in the world?
Post Flair (click to view more posts with a particular flair)
Post Body

Citigroup Inc. US:C had the largest exposure, by outstanding loan balance, at about $19.4 billion as of the end of fourth quarter of last year, followed by Wells Fargo & Co. US:WFC Bank of America Corp. US:BAC and JP Morgan Chase & Co. US:JPM, which had about $13 billion each during the same period.

But when looking at energy exposure as a share of a bankโ€™s overall loan book, Goldman Sachs Group Inc. US:GS came out on top in terms of exposure to oil and gas at 11.2% of its total loan book as of the fourth-quarter.

Comerica Incorporated US:CMA, CIT Group Inc. US:CIT, Zions Bancorp US:ZION were next in line with exposure of more than 3% of their total loan books.

https://www.marketwatch.com/story/heres-a-breakdown-of-us-bank-exposure-to-the-energy-industry-as-oil-prices-tank-2020-03-12

Certain US banks are already beginning to seize shale oil assets

According to Reuters, a raft of big lenders including JPMorgan Chase & Co, Wells Fargo & Co, Bank of America Corp and Citigroup Inc, have kicked off the process of setting up independent companies that will take over operations at distressed oil and gas companies.

https://oilprice.com/Energy/Energy-General/Big-Banks-Set-To-Seize-Shale-Oil-Assets.html

Author
Account Strength
100%
Account Age
12 years
Verified Email
Yes
Verified Flair
No
Total Karma
127,290
Link Karma
88,841
Comment Karma
38,354
Profile updated: 16 hours ago
Posts updated: 10 months ago

Subreddit

Post Details

We try to extract some basic information from the post title. This is not always successful or accurate, please use your best judgement and compare these values to the post title and body for confirmation.
Posted
4 years ago