...I am joined by fellow analysts on the team, including Managing Director Bob Young and colleagues from Moody s Struct ured and Corporate Departments. Today, we will continue our recent practice of discussing broader issues that the US banks face, rather than addressing individual banks #Q## results. (Please note that we have already commented on a number of the specific banks #Q## results by means of recent press releases and earnings commentaries.) The #Q## results were bad for many US banks. Both high loan loss provisions and the co ntinuation of credit marks resulted in lower profitability, or even created sizable losses for certain US banking institutions. Our ratings currently reflect the view that many US banks will be reporting poor results well into ####. Moody s recent rating actions have incorporated sizable stress losses, which were then related to individual financial metrics, including their capital bases. We assumed that those losses will be taken...

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