‘This Is Not a Normal Recession’: Banks Ready for Wave of Coronavirus Defaults

Wall Street Journal, July 14, 2020–Ben Eisen, David Benoit (subscription)
The largest U.S. banks signaled that the worst of the coronavirus recession is yet to come, opting to stow away tens of billions of dollars to prepare for an expected wave of loan losses.
https://www.wsj.com/articles/this-is-not-a-normal-recession-banks-ready-for-wave-of-coronavirus-defaults-11594746008?mod=hp_lead_pos1