In the third quarter, regional banks in the United States experienced an increase in nonperforming loans and rising costs from unpaid debts. Of the 18 regional banks analyzed with assets ranging from $50 billion to $250 billion, 15 reported increases in nonperforming loans compared to the same year-ago period, with the average rise being 80% more than the third quarter of 2022. Charge-offs, a measure of unpaid debts written off as losses, also increased at 15 of the 18 banks compared to the same year-ago period. The rise in nonperforming loans and charge-offs indicates concerns about the weakening credit trends in the banking industry.
Stock market news today: Stocks rally, tech surges after Fed leaves rates unchanged
On Wednesday, US stocks rallied as the Federal Reserve opted to maintain interest rates at their highest range in 22...