8.10.20
A new survey by the Promontory Interfinancial Network found that many banks are preparing to deal with the economic consequences of the coronavirus for the long term. The survey found that more than a third of bank executives expect to be dealing with the economic consequences in 2022, while more than half indicated they expect the economy to pick up sometime in 2021. Of the category of loans whose long-term future they are concerned about, around half of the respondents noted commercial real estate (CRE) worries them the most. After CRE loans, respondents indicated commercial and industry loans were the biggest concern followed by consumer loans.