The Bank of Boston has begun a new policy in banking circles . It has written - off as uncollectible loans to Third developing countries . The Bank of Boston , a regional bank , has an advantage over money- centered banks like those in New York , Chicago and San Francisco . Bank of Boston has a large loan - loss reserve that the large banks lack . The inhibiting factor for regional banks is once you have been burned by the inability to write - off a loan , you are much less likely to make any new such effort . Other regional banks may follow Bank of Boston 's lead .
The Bank of Boston has begun a new policy in banking circles. It has written-off as uncollectible loans to Third World countries. The Bank of Boston, a regional bank, has an advantage over money- centered banks like those in New York, Chicago and San Francisco. Bank of Boston has a large loan-loss reserve that the large banks lack. The inhibiting factor for regional banks is once you have been burned by the need to write-off a loan, you are much less likely to join any new such effort. Other regional banks may follow Bank of Boston's lead.