Reuters
Canadian truckers are struggling to make payments on their rigs as fuel prices rise and freight rates tumble, forcing banks to declare tens of millions of dollars' worth of bad loans. The big-five Canadian banks have transportation loans totalling nearly C$54 billion ($39.44 billion), according to quarterly filings as of April 30. As the financial solvency of borrowers, known as credit quality, becomes key in a high-interest-rate environment, Canada's top banks say they are working to reduce bad loans by exercising more caution towards new borrowers.