The level of losses from syndicated loans facing financial institutions tripled to $53B in 2009,...

|By:, SA News Editor

The level of losses from syndicated loans facing financial institutions tripled to $53B in 2009, due to poor underwriting standards and the recession. Criticized assets rated 'special mention', 'substandard', 'doubtful' and 'loss', hit a massive $642B, or about 22.3% of the total, vs. 13.4% a year ago.