American Express Credit-Loss Provisions Fall 23% to $985 Million
Provisions for credit losses fell 23% year over year to $985 million in the third quarter. American Express attributed the decline to a reserve release following enhancements to expected-credit-loss models, partly offset by an unspecified factor.
American Express said provisions for credit losses declined 23% year over year to $985 million in the third quarter. The decrease reflected a reserve release, compared with a reserve build in the year-earlier quarter. The release resulted from enhancements to models used to estimate expected credit losses, partially offset b…