J.P. Morgan Chase, Morgan Stanley
Profits for 2009 are likely to be weaker than the first quarter results suggestThe outlook for large global banks remains negative as credit problems will persist beyond the beginning of any economic recovery, Fitch Ratings says.For the major global financial institutions, higher capital ratios, less off-balance sheet activity and better asset spreads are likely over […]
Bank of America Corp. said Wednesday that it is well on its way to raising the US$34 billion in capital demanded by the U.S. banking regulators’ stress tests.The firm said it has raised almost US$26 billion in its capital plan since the stress test results were announced and is well on its way to reaching […]
Better than expected profits recorded by U.S. banks in the first quarter will be tough to sustain as credit quality deteriorates, cautions Fitch Ratings.Credit losses at major banks continue to rise while strength from market-base revenues, such as mortgage origination and fixed income trading, are not likely to persist, the rating agency cautioned.It also noted […]
Financial crisis easing, Geithner says
Stress testing should be fully integrated in banks’ governance frameworks
Rating agency affirms ratings for Canadian banks
Fitch Ratings has placed the ratings of nine U.S. banking companies and their subsidiaries on Rating Watch Negative, based in its view that they may be more vulnerable to the credit cycle, the rating agency said Friday.The affected banks are: BB&T Corp., Discover Financial Services, Fifth Third Bancorp, KeyCorp, M&T Bank Corp., Popular, Inc., Regions […]
Despite the cautious optimism creeping into the financial markets following the U.S. bank stress tests, Standard & Poor’s Ratings Services says it believes that banks are far from a recovery, and the banking crisis has merely entered a new phase.The rating agency notes that it’s still difficult to predict how long this latest phase will […]
Prolonged crisis has stretched government resources