Financial institutions set aside $11.4 billion in provisions for loan losses in the second quarter this year, a 75 percent rise from the provisions made in the same period a year ago, according to the Quarterly Banking Profile from the Federal Deposit Insurance Corp. this week.
For institutions with assets greater than $1 billion, the loss set-asides accounted for 7.7 percent of net operating revenues in the second quarter this year, up from 4.5 percent a year ago.
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