In a new financial report, Citigroup reported significantly increased delinquent loans, which reached $2.28 billion in the second quarter of this year. That's more than $780 million higher than the previous result ($1.504 billion) for the same period in 2023. Rose
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5 billion in the second quarter of this year. In addition, the Bank increased its provisions for non-performing loan exposures by $400 million from $1.1 billion in April-June 2023 to $1.5 billion in July-September 2024. Goldman Sachs also provided information on losses due to delinquent debts, which amounted to $359 million in the third quarter of this year. Other major US banks are also suffering from high levels of loan defaults, with JPMorgan Chase losing $2.2 billion during the last quarter and Wells Fargo recording $1.3 billion in net credit losses in the second quarter of this year.
SnThe three largest banks in the United States - Bank of America, Citigroup and Goldman Sachs - report a combined $4.139 billion in losses due to rising delinquent debts.
Thus, the U. S.
financial system is facing serious difficulties caused by the inability of many consumers to pay their loans. The possible deterioration of the financial situation of a wide range of population can have far-reaching consequences for both individuals and businesses, which makes this situation a very important object for monitoring and research.
Of course, it is difficult to speak about the end of the crisis on the basis of the information received. However, it is definitely a wake-up call for all stakeholders and a push for effective and swift action to stabilize the U.
S. financial system and mitigate the effects of the ongoing crisis on consumers and their ability to pay their debts to banks.
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