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A Fragile Stability For The Banking System Nov 09
Standard & Poors, Nov 2009
Abstract
Although extraordinary government support appears to have helped avert a systemic collapse of the financial system, in Standard & Poor's Ratings Services' view many parts of the economy remain weaker than at any time since the 1930s, and we're retaining our negative outlook on the banking sector. Downturns in the banking industry typically span three to five years, during which bank losses grow, credit metrics deteriorate, capital gets raised, and bankers generally turn more conservative for a time. But at the height of the credit crisis last fall, we watched this cycle appear to get compressed into a few days--a swift and violent contraction that we believe will eventually usher in some of the biggest changes in the financial system...
Companies mentioned in this report are: Deutsche Bank AG,Bank of America Corp.,Wells Fargo & Co.,JPMorgan Chase & Co.,Citigroup Inc.,The Royal Bank of Scotland Group PLC,Credit Suisse Group AG,The Goldman Sachs Group Inc.,HSBC Holdings PLC,UBS AG,Barclays PLC
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: 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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