After A Fourth-Quarter Battering, U.S. Banks Brace For A Tough 2008 Feb 08

  • ID: 1752177
  • February 2008
  • Region: United States
  • Standard & Poors
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  • Banco Santander S.A.
  • Colonial BancGroup Inc.
  • Greater Bay Bancorp
  • JPMorgan Chase & Co.
  • Morgan Stanley
  • Residential Capital LLC
  • MORE

Overall, the fourth quarter was difficult for many financial institutions, and the ensuing months will continue to test the sector, perhaps significantly so, depending on the length and depth of the economic slowdown. With the rapid speed at which events have unfolded since last summer, earnings clearly aren't the only "story" anymore. Credit and liquidity problems have quickly developed as significant factors affecting issuers and investors. The speed at which they have become apparent and their severity have taken market participants by surprise, although Standard & Poor's Ratings Services was aware for some time that certain risks were piling up waiting for the right moment to bring things crashing down. Fortunately, many financial institutions entered this down cycle from a...

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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

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- Deutsche Bank AG
- Merrill Lynch & Co. Inc.
- Bank of America Corp.
- PNC Financial Services Group
- Bear Stearns Cos. LLC
- First Horizon National Corp.
- Government Development Bank for Puerto Rico
- Huntington Bancshares Inc.
- Canadian Imperial Bank of Commerce
- KeyCorp
- Morgan Stanley
- Countrywide Financial Corp.
- JPMorgan Chase & Co.
- Citigroup Inc.
- Banco Santander S.A.
- Wheels Inc.
- Credit Suisse Group AG
- Synovus Financial Corp.
- TCF Financial Corp.
- HSBC Holdings PLC
- Capital One Financial Corp.
- Washington Mutual, Inc.
- Colonial BancGroup Inc.
- Nelnet Inc.
- E*TRADE Financial Corp.
- Indymac Bancorp
- Nuveen Investments Inc.
- Greater Bay Bancorp
- Icahn Enterprises L.P.
- MoneyGram International
- Residential Capital LLC
- Nasdaq, Inc.
- U.S. Trust Company N.A.

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