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Are Banks Being Roiled by Oil?

Ulysses Velasquez, Lauren Thomas and James Vickery ()

No 20161024, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: Profits and employment in the oil and natural gas extraction industry have fallen significantly since 2014, reflecting a sustained decline in energy prices. In this post, we look at how these tremors are affecting banks that operate in energy industry?intensive regions of the United States. We find that banks in the ?oil patch? have experienced a significant rise in delinquencies on commercial and industrial loans. So far though, there appears to be limited evidence of spillovers to other types of loans and no evidence of widespread bank losses or failures in these regions.

Keywords: financial stability; banks; oil (search for similar items in EconPapers)
JEL-codes: G2 (search for similar items in EconPapers)
Date: 2016-10-24
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