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Here's What Bank Executives Are Saying About Energy Markets

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Slumping oil prices and their effect on bank lending and markets were a topic of discussion Tuesday at a financial services conference in Miami, on calls with analysts and televised interviews. Investors are closely watching banks’ exposure to energy as rising OPEC output and resilient U.S. shale production intensifies a global glut. Here are some comments by lending and financial services executives collected by Bloomberg:

John Shrewsberry, chief financial officer, Wells Fargo & Co.
“At the end of the year, we had $42 billion of total exposure to oil and gas, including loan commitments and unutilized commitments, down 5 percent from a year ago. Loans outstanding were $17.4 billion, down 6 percent from a year ago and less than 2 percent of our total loans outstanding.”
http://www.bloomberg.com/news/articles/2016-02-09/here-s-what-bank-executives-are-saying-about-energy-markets

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