reports
- John Mackerey
- Michael Driscoll
DBRS Morningstar: Federal Reserve Stress Tests Again Highlight CRE Ris...
This commentary reviews the Federal Reserve's annual stress test with a primary focus on commercial real estate (CRE). Key highlights include: •Positively, all 23 banks in this year's iteration cleared the Federal Reserve stress tests and would all be able to continue to lend supporting the economy. •This year's stress test included heightened stress scenarios, especially around CRE. Next to credit cards, CRE had the highest loss levels of any asset class. •Preliminary stress capital buffers (S...
MTB M&T BANK CORPORATION
STT STATE STREET CORPORATION
BK BANK OF NEW YORK MELLON CORPORATION
PNC PNC FINANCIAL SERVICES GROUP INC.
USB CITIGROUP INC.
C WELLS FARGO & COMPANY
WFC NORTHERN TRUST CORPORATION
NTRS JPMORGAN CHASE & CO.
CMC CAPITAL ONE FINANCIAL CORPORATION
COF U.S. BANCORP
USB4311502 WELLS FARGO & CO.
USBpO TRUIST BANK
WFC.LG MORGAN STANLEY
BBT STATE STREET CORP
MSpE STATE STR ADR
MSTNL CITIZENS FINANCIAL GROUP
MSPRGCL INC.
MSPRI BANK OF AMERICA CORP. DEP. PFD. (REP. 1/1000TH INTEREST IN A SHARE OF 6.204% NON-CUM PFD SERIES D)
MWD BANK OF AMERICA DEP. SHS (REP. 1/1000TH INTEREST IN A SHARE OF NON-CUM PFD SERIES E)
STTpC BANK OF AMERICA CORP. DEP. SHS (REP. 1/1200TH INTEREST OF A SHARE OF NON-CUM PFD SERIES 5)
STTpD BANK OF AMERICA CORP. DEP. SHS (REP. 1/1200TH INTEREST OF A SHARE OF FLTG RATE NON-CUM PFD SERIES 4)
STT-PE BANK OF AMERICA CORP GDR
CIFI WELLS FARGO & CO
4136Z WELLS FARGO ADR
BACpD WELLS FARGO CO PFD.
BACpE CITIGROUP INC
BMLpL CITIGROUP INC PFD.
BMLpJ GOLDMAN SACHS GROUP INC
BACPRYCL GOLDMAN SACHS GROUP
WFCpN NORTHERN TRUST - PREF
WFCpO PNC FINANCIAL SERVICES GROUP INC PFD.
WFCpP US BANCORP
WFCpQ U.S. BANCORP PFD.
WEFAL BANK OF NEW YORK MELLON CORP
WLRGP TRUIST FINANCIAL CORPORATION
WFC-PX GOLDMAN SACHS GROUP
CpJ INC.
C_pk THE
- Michael Driscoll
- Rebecca Clarke
U.S. Residential Mortgage Market: Market Structure and Regulations Lik...
This commentary reviews the U.S. Residential Mortgage Market and its associated risks for U.S. Banks. Housing prices in the U.S. have appreciated sharply in recent years aided by historically low borrowing costs prevalent during the early stages of the pandemic. Key highlights include: • Strong U.S. home price appreciation was fueled by high demand during the pandemic from low-interest rates and more workplace flexibility that allowed employees to work from home. • The U.S. mortgage market is d...
STT STATE STREET CORPORATION
BK BANK OF NEW YORK MELLON CORPORATION
PNC PNC FINANCIAL SERVICES GROUP INC.
USB CITIGROUP INC.
C WELLS FARGO & COMPANY
WFC REGIONS FINANCIAL CORPORATION
RF NORTHERN TRUST CORPORATION
NTRS JPMORGAN CHASE & CO.
CMC CAPITAL ONE FINANCIAL CORPORATION
BBT U.S. BANCORP
COF WELLS FARGO & CO.
USB4311502 MORGAN STANLEY
USBpO STATE STREET CORP
WFC.LG STATE STR ADR
MSpE BANK OF AMERICA CORP. DEP. PFD. (REP. 1/1000TH INTEREST IN A SHARE OF 6.204% NON-CUM PFD SERIES D)
MSTNL BANK OF AMERICA DEP. SHS (REP. 1/1000TH INTEREST IN A SHARE OF NON-CUM PFD SERIES E)
MSPRGCL BANK OF AMERICA CORP. DEP. SHS (REP. 1/1200TH INTEREST OF A SHARE OF NON-CUM PFD SERIES 5)
MSPRI BANK OF AMERICA CORP. DEP. SHS (REP. 1/1200TH INTEREST OF A SHARE OF FLTG RATE NON-CUM PFD SERIES 4)
MWD BANK OF AMERICA CORP GDR
STTpC WELLS FARGO & CO
STTpD WELLS FARGO ADR
STT-PE WELLS FARGO CO PFD.
BACpD CITIGROUP INC
BACpE CITIGROUP INC PFD.
BMLpL GOLDMAN SACHS GROUP INC
BMLpJ GOLDMAN SACHS GROUP
BACPRYCL NORTHERN TRUST - PREF
WFCpN PNC FINANCIAL SERVICES GROUP INC PFD.
WFCpO US BANCORP
WFCpP U.S. BANCORP PFD.
WFCpQ REGIONS FINANCIAL CORP
WEFAL TRUIST FINANCIAL CORPORATION
WLRGP GOLDMAN SACHS GROUP
WFC-PX INC.
CpJ THE
- John Mackerey
- Michael Driscoll
DBRS Morningstar: Federal Reserve Stress Tests Highlight CRE Risk
This commentary reviews CCAR and Commercial Real Estate. Key highlights include: • All 34 banks in this year's iteration cleared the Federal Reserve stress tests. • This year's stress test included heightened stress scenarios, especially around CRE. Next to credit cards, CRE had the highest loss levels of any asset class. • Preliminary stress capital buffers (SCB) have also been released with most banks remaining at 2.50%. “While the most recent round of Federal Reserve stress testing, sho...
STT STATE STREET CORPORATION
BK BANK OF NEW YORK MELLON CORPORATION
PNC PNC FINANCIAL SERVICES GROUP INC.
USB CITIGROUP INC.
C WELLS FARGO & COMPANY
WFC REGIONS FINANCIAL CORPORATION
RF NORTHERN TRUST CORPORATION
NTRS JPMORGAN CHASE & CO.
CMC CAPITAL ONE FINANCIAL CORPORATION
BBT U.S. BANCORP
COF WELLS FARGO & CO.
USB4311502 MORGAN STANLEY
USBpO STATE STREET CORP
WFC.LG STATE STR ADR
MSpE BANK OF AMERICA CORP. DEP. PFD. (REP. 1/1000TH INTEREST IN A SHARE OF 6.204% NON-CUM PFD SERIES D)
MSTNL BANK OF AMERICA DEP. SHS (REP. 1/1000TH INTEREST IN A SHARE OF NON-CUM PFD SERIES E)
MSPRGCL BANK OF AMERICA CORP. DEP. SHS (REP. 1/1200TH INTEREST OF A SHARE OF NON-CUM PFD SERIES 5)
MSPRI BANK OF AMERICA CORP. DEP. SHS (REP. 1/1200TH INTEREST OF A SHARE OF FLTG RATE NON-CUM PFD SERIES 4)
MWD BANK OF AMERICA CORP GDR
STTpC WELLS FARGO & CO
STTpD WELLS FARGO ADR
STT-PE WELLS FARGO CO PFD.
BACpD CITIGROUP INC
BACpE CITIGROUP INC PFD.
BMLpL GOLDMAN SACHS GROUP INC
BMLpJ GOLDMAN SACHS GROUP
BACPRYCL NORTHERN TRUST - PREF
WFCpN PNC FINANCIAL SERVICES GROUP INC PFD.
WFCpO US BANCORP
WFCpP U.S. BANCORP PFD.
WFCpQ REGIONS FINANCIAL CORP
WEFAL TRUIST FINANCIAL CORPORATION
WLRGP GOLDMAN SACHS GROUP
WFC-PX INC.
CpJ THE
- John Mackerey
- Michael Driscoll
- Michael Driscoll
- Michael McTamney
U.S. Banks: Good 2Q22 Results Amid an Unsteady Environment
This commentary reviews the 2Q22 results for U.S. banks. Key highlights include: • While the operating environment remains complicated and uncertain, U.S. banks performed well in 2Q22. • The quarter was characterized by strong, broad-based loan growth, higher NII and NIM expansion, mixed fee income trends and still pristine asset quality. • Looking ahead, we do not expect a significant amount of changes to our U.S. bank ratings in the near term, given that nearly 90% of DBRS Morningstar-rat...
MTB M&T BANK CORPORATION
USB CITIGROUP INC.
C WELLS FARGO & COMPANY
WFC JPMORGAN CHASE & CO.
KEY FULTON FINANCIAL CORPORATION
CMC COMERICA INCORPORATED
FULT CAPITAL ONE FINANCIAL CORPORATION
CMA U.S. BANCORP
COF KEYCORP
USB4311502 WELLS FARGO & CO.
USBpO MORGAN STANLEY
KEY4401029 BANK OF AMERICA CORP. DEP. PFD. (REP. 1/1000TH INTEREST IN A SHARE OF 6.204% NON-CUM PFD SERIES D)
WFC.LG BANK OF AMERICA DEP. SHS (REP. 1/1000TH INTEREST IN A SHARE OF NON-CUM PFD SERIES E)
MSpE BANK OF AMERICA CORP. DEP. SHS (REP. 1/1200TH INTEREST OF A SHARE OF NON-CUM PFD SERIES 5)
MSTNL BANK OF AMERICA CORP. DEP. SHS (REP. 1/1200TH INTEREST OF A SHARE OF FLTG RATE NON-CUM PFD SERIES 4)
MSPRGCL BANK OF AMERICA CORP GDR
MSPRI WELLS FARGO & CO
MWD WELLS FARGO ADR
BACpD WELLS FARGO CO PFD.
BACpE CITIGROUP INC
BMLpL CITIGROUP INC PFD.
BMLpJ GOLDMAN SACHS GROUP INC
BACPRYCL GOLDMAN SACHS GROUP
WFCpN ALLY FINANCIAL INC.
WFCpO US BANCORP
WFCpP U.S. BANCORP PFD.
WFCpQ GOLDMAN SACHS GROUP
WEFAL INC.
WLRGP THE
- John Mackerey
- Michael Driscoll
- Michael Driscoll
- Yanni Koulouriotis
Modest Impact to US Payment Networks from Russian Sanctions, Shifting ...
This commentary reviews the impact of Russia’s economic sanctions on U.S. payment networks. Key highlights include: • Visa, American Express and MasterCard have all announced the immediate suspension of their operations in Russia essentially unplugging cross-border card payments for Russian bankcards and inbound payments from international cardholders. • In the absence of a material spillover effect to the global economy, the revenue impact to the U.S. payment networks from the lost card tran...
USB CITIGROUP INC.
C WELLS FARGO & COMPANY
WFC JPMORGAN CHASE & CO.
CMC AMERICAN EXPRESS COMPANY
AXP CAPITAL ONE FINANCIAL CORPORATION
COF U.S. BANCORP
USB4311502 AMERICAN EXPRESS CO.
USBpO WELLS FARGO & CO.
AXP4217522 BANK OF AMERICA CORP. DEP. PFD. (REP. 1/1000TH INTEREST IN A SHARE OF 6.204% NON-CUM PFD SERIES D)
WFC.LG BANK OF AMERICA DEP. SHS (REP. 1/1000TH INTEREST IN A SHARE OF NON-CUM PFD SERIES E)
BACpD BANK OF AMERICA CORP. DEP. SHS (REP. 1/1200TH INTEREST OF A SHARE OF NON-CUM PFD SERIES 5)
BACpE BANK OF AMERICA CORP. DEP. SHS (REP. 1/1200TH INTEREST OF A SHARE OF FLTG RATE NON-CUM PFD SERIES 4)
BMLpL BANK OF AMERICA CORP GDR
BMLpJ WELLS FARGO & CO
BACPRYCL WELLS FARGO ADR
WFCpN WELLS FARGO CO PFD.
WFCpO CITIGROUP INC
WFCpP CITIGROUP INC PFD.
WFCpQ US BANCORP
WEFAL U.S. BANCORP PFD.
- John Mackerey
- Michael Driscoll
- John Mackerey
- Michael Driscoll
DBRS Morningstar: Stress Tests Passed; Capital Returns Forthcoming
This commentary analyzes the results of the latest round of the Federal Reserve’s Dodd-Frank Act stress testing. The stress testing evaluates the banks' resilience to a severe hypothetical downturn. Key highlights include: -- All 23 banks cleared the stress tests and many have announced plans for capital distributions with more expected to be announced with second-quarter earnings. -- Of the 14 publicly-traded U.S. banking companies participating, ten have announced plans to increase their co...
STT STATE STREET CORPORATION
BK BANK OF NEW YORK MELLON CORPORATION
PNC PNC FINANCIAL SERVICES GROUP INC.
USB CITIGROUP INC.
C WELLS FARGO & COMPANY
WFC REGIONS FINANCIAL CORPORATION
RF NORTHERN TRUST CORPORATION
NTRS JPMORGAN CHASE & CO.
CMC GOLDMAN SACHS GROUP INC.
GS CAPITAL ONE FINANCIAL CORPORATION
COF U.S. BANCORP
USB4311502 WELLS FARGO & CO.
USBpO MORGAN STANLEY
WFC.LG STATE STREET CORP
BBT STATE STR ADR
MSpE BANK OF AMERICA CORP. DEP. PFD. (REP. 1/1000TH INTEREST IN A SHARE OF 6.204% NON-CUM PFD SERIES D)
MSTNL BANK OF AMERICA DEP. SHS (REP. 1/1000TH INTEREST IN A SHARE OF NON-CUM PFD SERIES E)
MSPRGCL BANK OF AMERICA CORP. DEP. SHS (REP. 1/1200TH INTEREST OF A SHARE OF NON-CUM PFD SERIES 5)
MSPRI BANK OF AMERICA CORP. DEP. SHS (REP. 1/1200TH INTEREST OF A SHARE OF FLTG RATE NON-CUM PFD SERIES 4)
MWD BANK OF AMERICA CORP GDR
STTpC WELLS FARGO & CO
STTpD WELLS FARGO ADR
STT-PE WELLS FARGO CO PFD.
BACpD CITIGROUP INC
BACpE CITIGROUP INC PFD.
BMLpL GOLDMAN SACHS GROUP INC
BMLpJ GOLDMAN SACHS GROUP
BACPRYCL NORTHERN TRUST - PREF
WFCpN PNC FINANCIAL SERVICES GROUP INC PFD.
WFCpO US BANCORP
WFCpP U.S. BANCORP PFD.
WFCpQ BANK OF NEW YORK MELLON CORP
WEFAL REGIONS FINANCIAL CORP
WLRGP TRUIST FINANCIAL CORPORATION
- John Mackerey
- Michael Driscoll
- John Mackerey
- Michael Driscoll
- John Mackerey
- Michael Driscoll
- John Mackerey
- Michael Driscoll
- John Mackerey
- Michael Driscoll
- Please Change Name Rita Sahu
U.S. Bancorp: Earnings Commentary - First Quarter 2017
FINANCIAL INSTITUTIONS ISSUER COMMENT 19 April 2017 Contacts Rita Sahu 212-553-1648 VP-Sr Credit Officer [email protected] Allen H. Tischler 212-553-4541 Senior Vice President [email protected] Joseph Pucella 212-553-7455 VP-Sr Credit Officer [email protected] Conrad Kirejczyk 212-553-4523 Associate Analyst [email protected] Sean Jones
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