This is what lenders ALWAYS say at the end of a credit cycle. Countrywide said the same in late-2006.

via @lebas_janney:

Two banks, $C and $JPM have reported increases in loan loss provisions/credit costs. They’re preparing for the credit downturn, even if they don’t say so outright.

On the plus side, $WFC followed up with a pretty benign credit story with smaller provisions/charge offs.

To be clear, that’s plus side for economy/credit cycle story, not co-specific.