The Write-Downs are Coming. Start Preparing Now

American Banker, June 1, 2020–Eugene Ludwig, Wayne Rushton, Tom Freeman, Jeff Glibert (subscription)
The crisis being triggered by the coronavirus pandemic is accelerating the financial industry toward an era of dramatically increased debt workouts and defaults. While the Paycheck Protection Program loans should end up on the government’s books, most loan write-offs and write-downs will be the burden of banks and other lenders.