...The long dreaded, broad-based deterioration in consumer asset quality escalated during #Q## like the sudden movement of a tropical storm. Much like weather forecasts and storm warnings, no matter how many dire pred ictions before the storm, the reality of the storm's destruction and devastation always seems to take everyone by surprise. In common with the high winds at the leading ed ge of the storm; loan loss provisions do the most damage and make the most noise. Si milarly the increases in non-performing loans and net charge-offs are much like the collateral damage that takes months and, in some cases, years to fully clean up and rebu ild. That said, one silver lining is that the infrastructure constructed after a natural disa ster is typically built stronger and more durable. The real question is whether the U.S. banks are weathering the trailing edge winds or merely getting ready for the eye of the storm. Fitch believes that while this storm lingered over land longer...
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| Report Type: | Special Report
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| Company(ies): | Bank of America Corporation, BB&T Corporation, Citigroup Inc., Comerica Inc., Fifth Third Bancorp, First Horizon National Corp., Huntington Bancshares Inc., JPMorgan Chase & Co, KeyCorp, M & T Bank Corporation, Marshall & Ilsley Corporation, National City Corporation, New York Community Bancorp, Northern Trust Corporation, PNC Financial Services Group Inc., Popular, Inc., Regions Financial Corporation, Sovereign Bancorp, Inc., State Street Corporation, SunTrust Banks, Inc.
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| Ticker(s): | BAC , BBT , BPOP , C , CMA , FHN , FITB , HBAN , JPM , KEY , MI , MTB , NCC , NTRS , NYB , PNC , RF , SNV , SOV , STI
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| Format: | | PDF |  |
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