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U.S. Banks Could Limit Consumer Spending This Holiday Season, Says S&P Report Nov 11
Standard & Poors, Nov 2011
Abstract
NEW YORK (Standard & Poor's) Nov. 8, 2011-- How willing and able are banks to extend credit? According a Standard & Poor's Ratings Services report published today, consumer spending this holiday season will likely depend on the answer. Delinquency data shows that borrowers have been better at keeping current on their debt payments than at any time since the onset of the recent recession, which suggests that problem loans in bank portfolios are waning. But as the economy continues to wobble on the precipice of another recession, laden with still-high unemployment rates, a spike in bad loans could be a misstep away. 'Against this backdrop, we believe consumers may find it tough to obtain new credit as the holiday shopping...
Companies mentioned in this report are: Bank of America Corp.,JPMorgan Chase & Co.,Discover Financial Services 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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