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U.S. banks homebuilding losses to taper in six months: S&P

Posted on 30 July 2009

From Reuters: U.S. banks’ losses from loans to homebuilders should start to taper off in about six months, a Standard & Poor’s analyst said on Wednesday.

“The bottom in homebuilder activity apparently started forming after the second quarter closed, so write-offs should taper off late this year or early next,” said Tanya Azarchs, a bank credit rating analyst with Standard & Poor’s in New York………Full Article: Source


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