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A Full Recovery For U.S. Banks May Not Be Exactly Around The Corner, Although Some Hopeful Signs Exist May 09
Standard & Poors, May 2009
Abstract
NEW YORK (Standard & Poor's) May 13, 2009--Despite the cautious optimism creeping into the financial markets, in light of what some believe are better-than-expected results from the government stress testing of 19 large banks, Standard & Poor's Ratings Services believes that banks are far from a recovery, and the banking crisis has merely entered a new phase. Still, it's difficult to predict just how long this phase will last. But as Tanya Azarchs, a managing director at Standard & Poor's said at the recent Standard & Poor's Financial Institutions Hot Topics Seminar, although our analytical time horizon for losses extends only through 2010, 'there's nothing to say that this banking crisis can't go on for another three or four years.'...
Companies mentioned in this report are: Bank of America Corp.,Citigroup Inc.
Action: General Comment
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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