US thrifts urged to set aside record $7.6bn for losses (Gulf Times)
Story date: 2008-05-27 11:12:40
Added on: 2008-05-27 23:46:43
WASHINGTON: US thrifts are being urged to set aside more money for bad mortgage loans after reporting record loan loss provisions totaling $7.6bn in the first quarter due to the deteriorating American housing market, the Office of Thrift Supervision (OTS) said yesterday.
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