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Are Banks Being Roiled by Oil?

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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.

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  • Lauren Thomas & Ulysses Velasquez & James Vickery, 2016. "Are Banks Being Roiled by Oil?," Liberty Street Economics 20161024, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:87160
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    File URL: https://libertystreeteconomics.newyorkfed.org/2016/10/are-banks-being-roiled-by-oil.html
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    Keywords

    financial stability; banks; oil;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services

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