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Banks and Investment Banks Resilient Following World Trade Center Attacks Sep 01
Standard & Poors, Sep 2001
Abstract
LONDON (Standard & Poor's) Sept. 18, 2001--Banks and investment banks appear to have fundamentally weathered the initial phase of the dislocations caused by the attacks on the World Trade Center, Standard & Poor's said today. The payments system continued to work even in the immediate aftermath of the disaster, and financial markets are now all open for business. Liquidity is plentiful: banks channeled large amounts of liquidity borrowed at the discount window to those experiencing temporary payment delays in the settlement and other processes. Such temporary glitches have now all but disappeared. For the most part, banks and brokers have been able to transfer operations to locations outside the downtown area, benefiting from recent emergency planning that took place prior...
Companies mentioned in this report are: Deutsche Bank AG,Lehman Brothers Inc.,Morgan Stanley & Co. LLC,Credit Suisse Group AG,The Goldman Sachs Group Inc.,Charles Schwab Corp.,UBS AG
Action: Subscribers only
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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