Cleveland Fed Says Banks Not Concerned About Bad Loans to O&G Industry

The Federal Reserve Bank did a survey of banks in April asking them about loans made to companies in the oil and gas industry. The results of that survey are interesting. In broad terms, most banks say they aren’t over-exposed to loans to oil and gas companies; that they know some of those loans will go south; and that they aren’t all that phased by the current tough times for the O&G industry. In the words of the Fed, banks aren’t “sounding the alarm” about loans to drillers and midstreamers…

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