Bank of BostonThe Bank of Boston has begun a new policy in banking circles. It has written-off as uncollectible loans to Third World countries. Bank of BostonThe Bank of Boston, a regional bank, has an advantage over money- centered banks like those in New York, Chicago and San Francisco. The 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 The 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.