Falling Oil Prices Pummel Zions Bancorporation (ZION)
Zions Bancorporation is down 3% in trading today as WTI crude falls to just $48 per barrel (Brent crude is at $51), and there are serious concerns that it will have to stop releasing loan loss reserves, if not build them back up a bit, cutting off a major driver of recent growth.
“We recognize that there are many factors in the loan loss reserve calculation but question if ZION can continue to release reserves in light . . .
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