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PNC increased its provision for credit losses by about $45 million, mostly to cover loans on residential real estate.
The guidelines also cover loans with negative amortization features, and are designed to help consumers see the financial difference between "minimum" and "full" payments.
The settlement deals with much of the Countrywide dross but it doesn't cover loans handled by other BofA units or those securitised after being sold to third parties.
The bill would cover loans from the state-owned foreign museums like the Louvre or the Prado, but not private ones.
Some of Spain's leading banks reported significantly lower earnings Friday, largely the result of having to set aside more money to cover loans that could default.
The settlement deals with much of the Countrywide dross but it doesn't cover loans handled by other BofA divisions or those securitised after being sold to third parties.
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PPI is intended to cover loan repayments in the event of job loss or illness.
Reserves to cover loan losses more than doubled, to 1 billion euros in 2001.
The change will most likely force the banks to increase their reserves to cover loan losses.
In some cases, they were even expected to repay past dividends to cover loan payments on money-losing ships.
It also set aside $1.53 billion to cover loan losses, within the range of $1.5 billion to $1.6 billion it forecast in December.
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