{"id":78816,"date":"2024-01-09T15:28:51","date_gmt":"2024-01-09T20:28:51","guid":{"rendered":"https:\/\/theturtleislandnews.com\/?p=78816"},"modified":"2024-01-09T15:28:51","modified_gmt":"2024-01-09T20:28:51","slug":"bank-ceos-expect-further-loan-loss-provisions-and-pressure-on-lending-in-2024","status":"publish","type":"post","link":"https:\/\/theturtleislandnews.com\/index.php\/2024\/01\/09\/bank-ceos-expect-further-loan-loss-provisions-and-pressure-on-lending-in-2024\/","title":{"rendered":"Bank CEOs expect further loan loss provisions and pressure on lending in 2024"},"content":{"rendered":"

\u00a0By Ian Bickis THE CANADIAN PRESS TORONTO- Canadian bank CEOs say high interest rates are delaying business andconsumer spending decisions and will likely lead to more provisions for bad loans this year, but that borrowers overall should manage well. RBC chief executive Dave McKay, speaking at the RBC Capital Markets Canadian Bank CEO Conference on Tuesday, said he expects to see credit loss provisions peak this year as parts of the commercial lending side remain strained. Borrowers on the mortgage side are having to adapt to payment increases of roughly 20 per cent, or $400 per month on average, for its clients renewing this year, but higher wages along with savings are helping to soften the impact, said McKay. “Our experience in 2023 as an industry, and at RBC, is… <\/p>\n

\n
\n
This content is for Yearly Subscription, Yearly Subscription – Corporate, Print Subscription Only, and Canada Print and Online members only.
Register<\/a><\/div>\n
Already a member? Log in here<\/a><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

\u00a0By Ian Bickis THE CANADIAN PRESS TORONTO- Canadian bank CEOs say high interest rates are delaying business andconsumer spending decisions and will likely lead to more provisions for bad loans this year, but that borrowers overall should manage well. RBC chief executive Dave McKay, speaking at the RBC Capital Markets Canadian Bank CEO Conference on Tuesday, said he expects to see credit loss provisions peak this year as parts of the commercial lending side remain strained. Borrowers on the mortgage side are having to adapt to payment increases of roughly 20 per cent, or $400 per month on average, for its clients renewing this year, but higher wages along with savings are helping to soften the impact, said McKay. “Our experience in 2023 as an industry, and at RBC, is... <\/p>\n

This content is for Yearly Subscription, Yearly Subscription - Corporate, Print Subscription Only, and Canada Print and Online members only.
Register<\/a><\/div>
Already a member? Log in here<\/a><\/div><\/div><\/div>","protected":false},"author":101363,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pmpro_default_level":"","footnotes":""},"categories":[8,13],"tags":[],"class_list":["post-78816","post","type-post","status-publish","format-standard","hentry","category-national-news","category-ticker","pmpro-level-required","pmpro-level-3","pmpro-level-2","pmpro-level-5","pmpro-level-4","pmpro-level-6","pmpro-level-7","pmpro-no-access"],"yoast_head":"\nBank CEOs expect further loan loss provisions and pressure on lending in 2024 - The Turtle Island News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/theturtleislandnews.com\/index.php\/2024\/01\/09\/bank-ceos-expect-further-loan-loss-provisions-and-pressure-on-lending-in-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank CEOs expect further loan loss provisions and pressure on lending in 2024 - The Turtle Island News\" \/>\n<meta property=\"og:description\" content=\"\u00a0By Ian Bickis THE CANADIAN PRESS TORONTO- Canadian bank CEOs say high interest rates are delaying business andconsumer spending decisions and will likely lead to more provisions for bad loans this year, but that borrowers overall should manage well. RBC chief executive Dave McKay, speaking at the RBC Capital Markets Canadian Bank CEO Conference on Tuesday, said he expects to see credit loss provisions peak this year as parts of the commercial lending side remain strained. Borrowers on the mortgage side are having to adapt to payment increases of roughly 20 per cent, or $400 per month on average, for its clients renewing this year, but higher wages along with savings are helping to soften the impact, said McKay. “Our experience in 2023 as an industry, and at RBC, is\" \/>\n<meta property=\"og:url\" content=\"https:\/\/theturtleislandnews.com\/index.php\/2024\/01\/09\/bank-ceos-expect-further-loan-loss-provisions-and-pressure-on-lending-in-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"The Turtle Island News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TurtleIslandNews\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-09T20:28:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/theturtleislandnews.com\/wp-content\/uploads\/2016\/01\/facebooklogo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"725\" \/>\n\t<meta property=\"og:image:height\" content=\"483\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Lynda Powless\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@newsattheturtle\" \/>\n<meta name=\"twitter:site\" content=\"@newsattheturtle\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lynda Powless\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/theturtleislandnews.com\\\/index.php\\\/2024\\\/01\\\/09\\\/bank-ceos-expect-further-loan-loss-provisions-and-pressure-on-lending-in-2024\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/theturtleislandnews.com\\\/index.php\\\/2024\\\/01\\\/09\\\/bank-ceos-expect-further-loan-loss-provisions-and-pressure-on-lending-in-2024\\\/\"},\"author\":{\"name\":\"Lynda Powless\",\"@id\":\"https:\\\/\\\/theturtleislandnews.com\\\/#\\\/schema\\\/person\\\/7b188fd7503577895ef8b306988cd458\"},\"headline\":\"Bank CEOs expect further loan loss provisions and pressure on lending in 2024\",\"datePublished\":\"2024-01-09T20:28:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/theturtleislandnews.com\\\/index.php\\\/2024\\\/01\\\/09\\\/bank-ceos-expect-further-loan-loss-provisions-and-pressure-on-lending-in-2024\\\/\"},\"wordCount\":608,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/theturtleislandnews.com\\\/#organization\"},\"articleSection\":[\"National News\",\"ticker\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/theturtleislandnews.com\\\/index.php\\\/2024\\\/01\\\/09\\\/bank-ceos-expect-further-loan-loss-provisions-and-pressure-on-lending-in-2024\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/theturtleislandnews.com\\\/index.php\\\/2024\\\/01\\\/09\\\/bank-ceos-expect-further-loan-loss-provisions-and-pressure-on-lending-in-2024\\\/\",\"url\":\"https:\\\/\\\/theturtleislandnews.com\\\/index.php\\\/2024\\\/01\\\/09\\\/bank-ceos-expect-further-loan-loss-provisions-and-pressure-on-lending-in-2024\\\/\",\"name\":\"Bank CEOs expect further loan loss provisions and pressure on lending in 2024 - The Turtle Island News\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/theturtleislandnews.com\\\/#website\"},\"datePublished\":\"2024-01-09T20:28:51+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/theturtleislandnews.com\\\/index.php\\\/2024\\\/01\\\/09\\\/bank-ceos-expect-further-loan-loss-provisions-and-pressure-on-lending-in-2024\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/theturtleislandnews.com\\\/index.php\\\/2024\\\/01\\\/09\\\/bank-ceos-expect-further-loan-loss-provisions-and-pressure-on-lending-in-2024\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/theturtleislandnews.com\\\/index.php\\\/2024\\\/01\\\/09\\\/bank-ceos-expect-further-loan-loss-provisions-and-pressure-on-lending-in-2024\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/theturtleislandnews.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bank CEOs expect further loan loss provisions and pressure on lending in 2024\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/theturtleislandnews.com\\\/#website\",\"url\":\"https:\\\/\\\/theturtleislandnews.com\\\/\",\"name\":\"The Turtle Island News\",\"description\":\"Your Source for Local News\",\"publisher\":{\"@id\":\"https:\\\/\\\/theturtleislandnews.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/theturtleislandnews.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/theturtleislandnews.com\\\/#organization\",\"name\":\"Turtle Island News\",\"url\":\"https:\\\/\\\/theturtleislandnews.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/theturtleislandnews.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/theturtleislandnews.com\\\/wp-content\\\/uploads\\\/2016\\\/08\\\/turtle150.jpg\",\"contentUrl\":\"https:\\\/\\\/theturtleislandnews.com\\\/wp-content\\\/uploads\\\/2016\\\/08\\\/turtle150.jpg\",\"width\":140,\"height\":150,\"caption\":\"Turtle Island News\"},\"image\":{\"@id\":\"https:\\\/\\\/theturtleislandnews.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/TurtleIslandNews\\\/\",\"https:\\\/\\\/x.com\\\/newsattheturtle\",\"https:\\\/\\\/www.youtube.com\\\/channel\\\/UCOqB-hG3L6hRLsmqY0e5k0g\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/theturtleislandnews.com\\\/#\\\/schema\\\/person\\\/7b188fd7503577895ef8b306988cd458\",\"name\":\"Lynda Powless\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9dcf622653a010411b0a01d44ed2a1a41158cc5195ea70acd7914787f81e63a1?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9dcf622653a010411b0a01d44ed2a1a41158cc5195ea70acd7914787f81e63a1?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9dcf622653a010411b0a01d44ed2a1a41158cc5195ea70acd7914787f81e63a1?s=96&d=mm&r=g\",\"caption\":\"Lynda Powless\"},\"url\":\"https:\\\/\\\/theturtleislandnews.com\\\/index.php\\\/author\\\/lynda\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bank CEOs expect further loan loss provisions and pressure on lending in 2024 - The Turtle Island News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/theturtleislandnews.com\/index.php\/2024\/01\/09\/bank-ceos-expect-further-loan-loss-provisions-and-pressure-on-lending-in-2024\/","og_locale":"en_US","og_type":"article","og_title":"Bank CEOs expect further loan loss provisions and pressure on lending in 2024 - The Turtle Island News","og_description":"\u00a0By Ian Bickis THE CANADIAN PRESS TORONTO- Canadian bank CEOs say high interest rates are delaying business andconsumer spending decisions and will likely lead to more provisions for bad loans this year, but that borrowers overall should manage well. RBC chief executive Dave McKay, speaking at the RBC Capital Markets Canadian Bank CEO Conference on Tuesday, said he expects to see credit loss provisions peak this year as parts of the commercial lending side remain strained. Borrowers on the mortgage side are having to adapt to payment increases of roughly 20 per cent, or $400 per month on average, for its clients renewing this year, but higher wages along with savings are helping to soften the impact, said McKay. “Our experience in 2023 as an industry, and at RBC, is","og_url":"https:\/\/theturtleislandnews.com\/index.php\/2024\/01\/09\/bank-ceos-expect-further-loan-loss-provisions-and-pressure-on-lending-in-2024\/","og_site_name":"The Turtle Island News","article_publisher":"https:\/\/www.facebook.com\/TurtleIslandNews\/","article_published_time":"2024-01-09T20:28:51+00:00","og_image":[{"width":725,"height":483,"url":"https:\/\/theturtleislandnews.com\/wp-content\/uploads\/2016\/01\/facebooklogo.jpg","type":"image\/jpeg"}],"author":"Lynda Powless","twitter_card":"summary_large_image","twitter_creator":"@newsattheturtle","twitter_site":"@newsattheturtle","twitter_misc":{"Written by":"Lynda Powless","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/theturtleislandnews.com\/index.php\/2024\/01\/09\/bank-ceos-expect-further-loan-loss-provisions-and-pressure-on-lending-in-2024\/#article","isPartOf":{"@id":"https:\/\/theturtleislandnews.com\/index.php\/2024\/01\/09\/bank-ceos-expect-further-loan-loss-provisions-and-pressure-on-lending-in-2024\/"},"author":{"name":"Lynda Powless","@id":"https:\/\/theturtleislandnews.com\/#\/schema\/person\/7b188fd7503577895ef8b306988cd458"},"headline":"Bank CEOs expect further loan loss provisions and pressure on lending in 2024","datePublished":"2024-01-09T20:28:51+00:00","mainEntityOfPage":{"@id":"https:\/\/theturtleislandnews.com\/index.php\/2024\/01\/09\/bank-ceos-expect-further-loan-loss-provisions-and-pressure-on-lending-in-2024\/"},"wordCount":608,"commentCount":0,"publisher":{"@id":"https:\/\/theturtleislandnews.com\/#organization"},"articleSection":["National News","ticker"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/theturtleislandnews.com\/index.php\/2024\/01\/09\/bank-ceos-expect-further-loan-loss-provisions-and-pressure-on-lending-in-2024\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/theturtleislandnews.com\/index.php\/2024\/01\/09\/bank-ceos-expect-further-loan-loss-provisions-and-pressure-on-lending-in-2024\/","url":"https:\/\/theturtleislandnews.com\/index.php\/2024\/01\/09\/bank-ceos-expect-further-loan-loss-provisions-and-pressure-on-lending-in-2024\/","name":"Bank CEOs expect further loan loss provisions and pressure on lending in 2024 - The Turtle Island News","isPartOf":{"@id":"https:\/\/theturtleislandnews.com\/#website"},"datePublished":"2024-01-09T20:28:51+00:00","breadcrumb":{"@id":"https:\/\/theturtleislandnews.com\/index.php\/2024\/01\/09\/bank-ceos-expect-further-loan-loss-provisions-and-pressure-on-lending-in-2024\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/theturtleislandnews.com\/index.php\/2024\/01\/09\/bank-ceos-expect-further-loan-loss-provisions-and-pressure-on-lending-in-2024\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/theturtleislandnews.com\/index.php\/2024\/01\/09\/bank-ceos-expect-further-loan-loss-provisions-and-pressure-on-lending-in-2024\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/theturtleislandnews.com\/"},{"@type":"ListItem","position":2,"name":"Bank CEOs expect further loan loss provisions and pressure on lending in 2024"}]},{"@type":"WebSite","@id":"https:\/\/theturtleislandnews.com\/#website","url":"https:\/\/theturtleislandnews.com\/","name":"The Turtle Island News","description":"Your Source for Local News","publisher":{"@id":"https:\/\/theturtleislandnews.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/theturtleislandnews.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":"Organization","@id":"https:\/\/theturtleislandnews.com\/#organization","name":"Turtle Island News","url":"https:\/\/theturtleislandnews.com\/","logo":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/theturtleislandnews.com\/#\/schema\/logo\/image\/","url":"https:\/\/theturtleislandnews.com\/wp-content\/uploads\/2016\/08\/turtle150.jpg","contentUrl":"https:\/\/theturtleislandnews.com\/wp-content\/uploads\/2016\/08\/turtle150.jpg","width":140,"height":150,"caption":"Turtle Island News"},"image":{"@id":"https:\/\/theturtleislandnews.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/TurtleIslandNews\/","https:\/\/x.com\/newsattheturtle","https:\/\/www.youtube.com\/channel\/UCOqB-hG3L6hRLsmqY0e5k0g"]},{"@type":"Person","@id":"https:\/\/theturtleislandnews.com\/#\/schema\/person\/7b188fd7503577895ef8b306988cd458","name":"Lynda Powless","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/secure.gravatar.com\/avatar\/9dcf622653a010411b0a01d44ed2a1a41158cc5195ea70acd7914787f81e63a1?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/9dcf622653a010411b0a01d44ed2a1a41158cc5195ea70acd7914787f81e63a1?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9dcf622653a010411b0a01d44ed2a1a41158cc5195ea70acd7914787f81e63a1?s=96&d=mm&r=g","caption":"Lynda Powless"},"url":"https:\/\/theturtleislandnews.com\/index.php\/author\/lynda\/"}]}},"_links":{"self":[{"href":"https:\/\/theturtleislandnews.com\/index.php\/wp-json\/wp\/v2\/posts\/78816","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/theturtleislandnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theturtleislandnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theturtleislandnews.com\/index.php\/wp-json\/wp\/v2\/users\/101363"}],"replies":[{"embeddable":true,"href":"https:\/\/theturtleislandnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=78816"}],"version-history":[{"count":1,"href":"https:\/\/theturtleislandnews.com\/index.php\/wp-json\/wp\/v2\/posts\/78816\/revisions"}],"predecessor-version":[{"id":78817,"href":"https:\/\/theturtleislandnews.com\/index.php\/wp-json\/wp\/v2\/posts\/78816\/revisions\/78817"}],"wp:attachment":[{"href":"https:\/\/theturtleislandnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=78816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theturtleislandnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=78816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theturtleislandnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=78816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}