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Showing results 1 - 20 for "Terris"
Wednesday, November 16
Receiving Wide Coverage ... Occupying Hearts and Minds: The papers took a stab at weighing the future of the Occupy Wall Street protests in the daylight of a "cleared and power washed" Zuccotti Park. The Times said "questions endure about whether...the movement might lose momentum or drift into irrelevancy" without its central piece of street theater. But some organizers "acknowledged that the crackdowns by the authorities in New York and other cities might ultimately benefit the...
The Barclays Resignations Continue
Receiving Wide Coverage ... Diamond in the Rough: It has been a bad run for bank bosses with homophones for names, but especially for former Barclays CEO Bob Diamond, who resigned early today over the Libor scandal. Diamond said: "The external pressure placed on Barclays has reached a level that risks damaging the franchise. I cannot let that happen." The Journal said Diamond's exit could portend a turn away from his focus on expanding the company's...
European Banks Lending Here
An outrush of deposits from foreign bank operations in the U.S. has forced them to cut their balance sheets by a fifth since midyear, but they still managed a 3% increase in business loans.
Banks' Earnings Forecast: Cloudy
Wall Street analysts failed to anticipate the severity of the collapse in bank earnings in 2008 and 2009, and then underestimated the strength of the rebound last year. For what it’s worth, forecasts in late 2011 registered the most skepticism over the two-year outlook in more than four years.
Parsing the Greek Election Results
Receiving Wide Coverage ... New Democracy Wins: But wins what? The helm of an unraveling economic and political order, a spot many believe no government can hold onto for long? In any event, Greece's three main contenders — the establishment parties New Democracy (center right) and Pasok (center left), and the upstart leftist coalition Syriza — all substantially increased their shares of the vote in yesterday's parliamentary election. ...
Go Ahead, Move Your Money
Through fever waves of populist anger including the Occupy Wall Street protests, there has been no sign that disgusted customers are draining the giant banks of their deposits.
Depositors Put Defection on Hold
Most people did not observe Bank Transfer Day, a survey found, but customers who follow through on plans to close accounts could still sting banks.
Businesses Hoard Cash, Still Borrow
Corporate cash hoards hit yet another high in the third quarter, but the image of firms as skinflints is misleading. Corporations have been borrowing, and borrowing from banks, as they have been restocking inventories.
Investors Warm to Acquirers' Stock
Buyers' stock has outperformed after about two-thirds of major deal announcements over the last nine months, hinting at a shift from the displeasure acquirers met with in late 2010 and early 2011.
Stress Testing the Stress Tests
Receiving Wide Coverage ... Stress Relief: As banks announced a wave of dividend increases and stock repurchase plans after getting their stress test marks from the Fed, an article in the Times foregrounded criticism that the capital payouts are too much and too soon. Luminaries, including Stanford's Anat Admati, denounced the central bank for irresponsibility and appeasement, and faulted the process for failing to reckon with potentially nightmarish legal liabilities. In the Journal, an article focused...
Bank Earnings Rorschach; Geithner Postscript
Breaking News This Morning ... Earnings: SunTrust, Morgan Stanley, General Electric Receiving Wide Coverage ... Earnings Rorschach: Headlines foregrounded the relentless barrage of legal costs at Bank of America and Citigroup after their quarterly reports yesterday — "Citi and BofA fail to dispel concerns" in FT and "Mortgage Crisis Lingers On at Citigroup and Bank of America" in the Times. The Journal contrasted the pair's results with midsize banks like BB&T and Fifth Third: "a regionally diverse group...
Economy Contracts; Fed Stays Put
Receiving Wide Coverage ... Economy Contracts: Private-sector demand was strong, but businesses reined in inventories and defense spending plummeted, leading to a surprise 0.1% contraction in economic activity in the fourth quarter, according to the Commerce Department's first estimate. The Journal said analysts pinned the plunge in military spending on factors like the drawdown in Afghanistan and worries that more reductions are coming. The Post said government agencies "began adopting contingency plans, instituted hiring freezes and...
Riding the Mortgage Revenue Wave
An analysis of mortgage origination volume and revenue at five big banks.
Big Four Strain Towards Basel III
While B of A nips and tucks as it struggles to meet new capital requirements, JPMorgan Chase bemoans the severity of the rules from a position of relative strength, and hints at the rationale for the behemoths to dismantle themselves.
Card Volume Shows Vitality While Loans Stagnate
Anemic household expenditures this year heightened anxiety that the economy would stall out, but growth in spending on plastic has remained healthy. An increased appetite for big-ticket items among households that are surviving the malaise probably explains much of the phenomenon.
Stocks Undo Progress in Household Balance Sheets
Borrowing ticked down in the third quarter, but so did personal income and property values, and household assets took a big blow from the drop in stock prices. That left three key measures of household financial stability – debt to net worth, mortgage debt to owner’s equity, and debt to disposable income - either flat or worse.
Collateral Damage: Ranking Banks by Foreclosed Assets
About a third of the institutions with the 25 highest ratios of foreclosed properties to tangible equity at Sept. 30 have since failed. Simultaneous craters in capital and jumps in repossessed real estate were typical, as were high levels of soured construction and development loans.
Niche Business: Ranking Banks by Insurance Sales
In an industry in need of new sources of revenue, some banks have built insurance brokerage operations that account for 40% or more of their total noninterest income. Most banks have not followed, however, and the business remains a minor sideline nationally.
Uptick in Card Loan Losses in View
Even as releases of allowances for bad credit card loans continue to plump bottom lines, rising delinquency rates in the fall point to the first increase in quarterly chargeoff rates in a year and a half at three of the largest issuers.
Dividend Yields Return, Dividends Do Not
The underperformance of big bank stocks last year helped restore their yields to a rough parity with smaller peers, but actual quarterly payouts remained a small fraction of pre-crisis levels.
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