Quality of capital expected to remain relatively steady
Fees for foreign currency transactions violated province’s consumer protection laws
The Financial Accounting Standards Board issued Friday two new accounting standards designed to address weaknesses in accounting and disclosure standards for off-balance sheet vehicles.FASB says that the new standards will impact financial institution balance sheets beginning in 2010. As a result of one of the new standards, more information will be required about transfers of […]
Several of the U.S. banks that are seeking to repay their Troubled Asset Relief Program bailout money now have more toxic assets on their books than before the financial crisis began, a new report says.According to Audit Integrity, an independent financial research firm, four of the six banks attempting to repay TARP money had more […]
U.S. Treasury will receive US$68 billion in repayment proceeds
Loan losses spell trouble
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 […]