And keep in mind that these potential losses come at a time when banks have put aside loan loss reserves to cover just 1.4 % of their lending portfolio, their lowest in years. (fortune.com)
That's mostly because large floods are so destructive that they arguably should be handled at the government level, rather than by private companies who have to maintain loss reserves. (effectivecoverage.com)
Banks are already raising loss reserves against their energy loan portfolios. (investorsinsight.com)