‘Worst yet,’ the analysts wrote in a note to clients
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The outlook for credit conditions appears to be deteriorating, based on bank results posted this week in the United States, which could stall the release of loan-loss provisions at Canadian banks, analysts at National Bank Financial are warning.
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“Worst yet,” the analysts led by Gabriel Dechaine wrote in a note to clients late Wednesday, if economic conditions are indeed deteriorating, it could lead Canada’s big banks to a new “build” phase where they set aside more funds to cover loans they believe could be in trouble.
“In our view,…
