Morgan Stanley recorded a $134 million provision for credit losses, citing “deteriorating conditions in the commercial real estate sector,” while Goldman Sachs revealed that it had roughly halved its portfolio’s exposure to office-related CRE.
Bank of America said its loans with at least 90 days of payments past due rose from $4.27 billion in the second quarter to almost $5 billion in the third quarter, much of this because of CRE holdings.