Financial Times: Impact Of Coronavirus On Banking
March 10, 2020
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President Trump summoned bankers for a meeting to discuss the coronavirus and the risks it poses to the economy. Oliver Wyman estimated a 3 to 5 percent decline in European banking revenue — if the worst is over in two to three months — as growth flatlines and central banks cut interest rates.
However, if it takes six months, losses could “reach into double figures and the threat of credit losses will rise considerably,” the consultancy added.
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