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Credit FAQ: How Rated U.S. Banks Fared In The Third Quarter Amid A Sluggish Recovery And Impending Criteria Changes Nov 11
Standard & Poors, Nov 2011
Abstract
In the third quarter, the muted economic growth in this jobless recovery continued to weigh on the U.S. banking sector's slow climb back from the worst of the credit crisis. Although Standard & Poor's in November revised its expectation of another recession down to 35% from the 40% odds we saw in August, we still don't expect unemployment--which fell only slightly in October, to 9.0% from 9.1% in September--to improve significantly anytime soon. And home prices in the largest U.S. residential markets are still below where they were a year ago, despite some small upticks over the summer, according to the most recent data from the S&P/Case-Shiller Home Price Index. Earnings at several large complex banks received a boost in...
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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