BancBoston Securities Inc. last week said it formed an emerging markets
The group is headed by Jeffrey Bistrong in Boston. It includes four
Mr. Bistrong reports to Peter Lombard, managing director and head of M&A
The recent volatility of emerging markets may have created M&A
"We have been in Latin America for a long, long time," said Mr. Lombard.
BankBoston Corp. has had a continuous presence in Brazil since 1947, and
Initially, the team will focus on opportunities in Brazil and will
The Cleveland-based bank is projecting steady growth in net interest income even as credit losses remain manageable. But Chairman and CEO Chris Gorman also said that he thinks a recession is likely.
The first-quarter increase involved commercial real estate loans, including some problematic multifamily loans and an office credit, but none of the criticized loans were to consumers, officials at the Dallas company say. Further CRE deterioration is anticipated.
The Detroit-based company is exploring ways to make more consumer auto loans without running afoul of stricter capital standards that are expected from the Federal Reserve. Possible approaches include more securitizations and the use of credit risk transfers.
The House Financial Services Committee also sent to the full House two bipartisan bills, including one that would prevent large banks from opting out of having to recognize Accumulated Other Comprehensive Income in regulatory capital.
Charge-offs and nonperforming loans rose at the Georgia bank in the first quarter. But it blamed the problem on one large client and said the matter has been resolved.
Amid healthy first-quarter loan growth and improving credit quality, Discover Financial Services slashed its profits by $800 million to offset remediation costs from a 16-year period when it overcharged certain merchants.
