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Regional bank loan oversight lapses and borrower fraud disclosures jolt market

Traders work on the floor of the New York Stock Exchange.
Photo: Spencer Platt/Getty Images

Alexander Barzacanos

3 min read
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Markets take a hit amid broader fears about credit quality and questions over risk assessment.

On Thursday, October 16, the KBW Regional Banking Index fell about 6.3%, and the Dow Jones Industrial Average closed roughly 301 points (0.7%) down as investors debated whether newly disclosed loan problems at two regional banks, Zions Bancorporation and Western Alliance, signaled broader risk-control and credit quality concerns, or were merely isolated cases.  

Zions

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