FDIC’s Quarterly Report Shows Extent of Pandemic’s Hit to Bank Profits

American Banker, Aug. 25, 2020–Brendan Pedersen (subscription)
The $18.8 billion in net income was 70% less than a year earlier as the uncertain economic picture and new accounting rules drove a sharp rise in provisions for future losses.
https://www.americanbanker.com/news/fdics-quarterly-report-shows-extent-of-pandemics-hit-to-bank-profits