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Bank Charge-Off Rate Surges.(first-half 2001)(Brief Article)(Statistical Data Included)
The U.S. Banking industry's net loan charge-offs grew by 45% during the first half of 2001, compared to the same period last year, according to Weiss Ratings Inc.
Loan charge-offs - the loss banks take when borrowers default on loans - totaled $15.9 billion in the period, according to Weiss, $4.9 billion more than during the same period of the previous year.
Some 2,993 banks and thrifts, or 31% of the industry, reported an increase ...
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