Loan Deferrals at Banks Continue to Decline
As many U.S. banks prepare to present at financial conferences this month, they are releasing presentations with updated financials that show loan deferral rates have declined between the end of the second quarter on June 30 and the end of August. When the coronavirus pandemic hit the economy in March, many banks allowed customers to skip payments on loans for a few months; the payments were then due at the end of the deferment period or tacked on to the end of the loan.
The dip in deferral rates shouldn't come as a huge surprise considering the economy is doing much better, but it's nonetheless good news for banks because loan deferrals have made it incredibly difficult for investors to analyze bank stocks. Let's take a look at some of the banks that have released information.
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Source Fool.com
