Energy industry

Citi warns of ‘meaningful’ increase in loan losses on carbon tax

12/18/20

Citigroup found that the rapid enactment of a carbon tax would likely lead to a significant increase in losses on loans the bank has made to certain oil and gas companies.

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Vaccines offer hope, but business lenders know recovery will take long

12/17/20

While banks are reporting steady declines in deferrals, hard-hit borrowers such as airlines, commercial real estate developers and hotel operators will almost certainly struggle to regain their footing.

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Rebounding oil prices give new hope to energy lenders

12/10/20

The emergence of vaccines has boosted travel forecasts — and crude prices. The expected bump at the pump could help oil and gas companies get back on track with loan payments.

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Trade group seeks underlying data behind OCC's 'fair access' proposal

12/01/20

The Bank Policy Institute submitted a Freedom of Information Act request to the Office of the Comptroller of the Currency requesting the agency's analysis used in crafting the plan.

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Bank of America says it won't finance oil and gas exploration in the Arctic

12/01/20

In November, the Sierra Club singled out Bank of America as "the only major U.S. bank not to rule out financing for the destruction of the Arctic refuge" after its five biggest competitors updated their policies this year.

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Climate risk test asks banks to look too far down the road

11/30/20

Global regulators are considering a universal stress test for climate change that requires lenders to use a 30-year horizon, a difficult and speculative projection of the energy industry that could harm bank financials.

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Banks push back on OCC’s bid to ban lending bias

11/25/20

The industry is asking for more time to comment on a regulatory proposal that aims to prohibit banks from denying services to oil and gas companies and other firms in politically sensitive industries.

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Huntington aims to contain energy exposure, ride consumer lending

07/23/20

The Ohio company, which has beefed up its loan-loss reserves, raised the possibility of more sales of oil and gas credits and talked up strong retail segments such as its marine and RV loans.

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Shale lenders in retreat as pandemic saps energy demand

07/23/20

Banks lending against the oil and natural gas reserves of hundreds of independent U.S. drilling companies have pulled back from the sector at an unprecedented rate this year after oil and gas prices slumped.

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Comerica remains bullish on energy even as pandemic roils sector

07/21/20

The Dallas bank set aside less in the second quarter for credit losses than analysts expected. Executives cited action in Texas and California to reverse reopenings and said they're still committed to the oil and gas business.

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