Obbligazioni bancarie MONITOR Principali banche mondiali (1 Viewer)

[slowdown]

Moody's downgrades Royal Bank of Scotland
2:16 PM ET, Jan 20, 2009 - By Sue ChangSAN FRANCISCO (MarketWatch) -- Moody's Investors Service on Tuesday lowered all long-term ratings of Royal Bank of Scotland PLC--including its senior unsecured rating to Aa3 from Aa1--and of its holding company, Royal Bank of Scotland Group PLC . The downgrades reflect Moody's expectation of significant future losses beyond those indicated by the bank for 2008. "These losses are likely to be driven by a combination of loans to lower-rated corporates as default rates rise, and commercial property exposures in the weakening markets of Ireland and the UK, as well as residential property and other consumer lending exposures in the US," the ratings agency said.


Bank of America needs over $80 bln in new capital, FBR says
11:56 AM ET, Jan 20, 2009 - By Alistair BarrSAN FRANCISCO (MarketWatch) -- Bank of America Corp. needs more than $80 billion in new common equity capital to support the huge amount of assets on its balance sheet, Paul Miller, an analyst at Friedman, Billings, Ramsey, said on Tuesday. After Bank of America and its newly acquired brokerage unit Merrill Lynch lost $17.1 billion in the fourth quarter, Bank of America enters 2009 with $61.7 billion of tangible common equity, supporting $2.4 trillion of tangible assets, Cannon wrote in a note to investors. The bank probably needs to maintain a tanglible equity ratio of 6% to 9%, he added. "It would take over $80 billion of new common equity to reach even the low end of the range, and we believe Bank of America simply is not generating sufficient capital internally in this environment to put a dent in this size capital hole," Cannon wrote. Bank of America shares fell 19% to $5.78 during midday action on Tuesday.

 

[METHOS]

Il down subisce l'ennesimo crollo. Il giorno del giuramento non genera ottimismo per la borsa. Obama ora deve passare dalle chiacchere ai fatti e vedremo di che pasta è fatto.
Intanto bofa è sempre più in crisi. Servono 80 mld. Certo che non ci fossero i soldi statali il sistema bancario dei principali stati sarebbe in gran parte colassato. Sono tempi molto bui...

Bank of America Needs More than $80 billion in new Capital
by WSS (MarketWatch)
Bank of America needs more than $80 billion in new common equity capital to support the huge amount of assets on its balance sheet, an analyst said. Also Wells Fargo probably will have to cut its dividend.

Bank of America Corp. needs more than $80 billion in new common equity capital to support the huge amount of assets on its balance sheet, an analyst said Tuesday.
Friedman, Billings, Ramsey's Paul Miller also said Wells Fargo & Co. probably will have to cut its dividend soon as that bank tries to boost capital. Shares of Bank of America fell 16% to $6.01 during afternoon action on Tuesday, while Wells Fargo lost 17% to $15.45. Bank of America reported a $1.79 billion fourth-quarter loss on Friday, and said its newly acquired brokerage unit, Merrill Lynch, lost more than $15 billion in the same period. See full story. Charlotte, N.C.-based Bank of America enters 2009 with $61.7 billion of tangible common equity, supporting $2.4 trillion of tangible assets, Miller wrote in a note.



The bank probably needs to maintain a tangible equity ratio of 6% to 9%, he said. "It would take over $80 billion of new common equity to reach even the low end of the range, and we believe Bank of America simply is not generating sufficient capital internally in this environment to put a dent in this size capital hole."
The mortgage meltdown has spread into a global financial crisis, triggering a recession and surging unemployment in the United States. Continued job cuts in 2009 will likely cause more loan losses for banks, putting extra demands on their capital.
Wells Fargo has avoided some of the problems suffered by other banks, but the company acquired Wachovia late last year, exposing it to more potential losses. "The significant strain on its tangible common equity of the Wachovia acquisition, as well as its newly acquired capital-markets businesses and $120 billion option ARM portfolio, should change the way that the market views Wells Fargo," FBR's Miller wrote.
Including Wachovia, Wells Fargo's tangible common equity represents 3.6% of tangible assets, while other measures of capital strength likely lagged those of rivals at the end of 2008, he estimated. The bank pays out $5.65 billion in dividends each year and it probably won't earn that much in 2009, the analyst added. "Wells Fargo will have to cut its dividend (if not this quarter, then sometime in the first half of 2009)," Miller said. "The current dividend reduces tangible common equity $5.65 billion annually, and Wells Fargo needs to rebuild its capital ratios." Alistair Barr is a reporter for MarketWatch in San Francisco.

 

[Broker88]

Certo che Citi ha avuto 3 giri di ricapitalizzazioni, BofA 2 + 1 tra pochi giorni o addirittura ore e mi stupisco tanto di Morgan e Goldman che ancora sono ferme ad una ricapitalizzazione.
Mah...


Devo dire però che stavolta non sono più cosi certo che il Governo prende il blocchetto degli assegni e paga..mah, spero vivamente di sbagliarmi.

 

[yellow]

Per "il momento" niente bad bank per la UE,
dove le Banche scaricherebbero le tossine ( assets tossic ) :

21.01.09 11:50 - *Germania: Min.Economia si oppone a creazione 'bad bank'



21.01.09 12:03 - *Bce: Trichet, ora non appropriato acquisto diretto securities

 

[Imark]

Le dimissioni di Thain, ex CEO di Merrill Lynch, da Bofa. Direi che oramai erano attese, anche se sa molto di capro espiatorio. Si vedrà se effettivamente avesse celato l'entità delle perdite potenziali al CEO di BofA Lewis. Ha inaugurato l'ingresso in Merrill Lynch con una maxisvalutazione sugli asset della banca ed è andato avanti così per un anno.

Probabilmente, se avesse capito da subito cosa aveva dinanzi a sé, sarebbe rimasto al NYSE.

http://www.bloomberg.com/apps/news?pid=20601087&sid=apwXZlxMaUm4&refer=home

 

[paologorgo]

Le dimissioni di Thain, ex CEO di Merrill Lynch, da Bofa. Direi che oramai erano attese, anche se sa molto di capro espiatorio.

Bank of America (BAC) lost confidence in Thain, a source tells WSJ, after CEO Ken Lewis learned of mounting Q4 losses at Merrill from the transition team rather than from Thain. When Lewis asked Thain what happened, he failed to get a "good explanation for what was happening and why."

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So Ken Lewis has finally - correctly - fired John Thain, Henry Blodget writes. "But don't let this distract you from who is ultimately responsible. No one forced Ken Lewis to buy Merrill Lynch - the decision that, more than any other, destroyed BofA (BAC)... If BofA's board doesn't finally acknowledge this and throw him out, the board should be thrown out, too."

 

[Imark]

Bank of America (BAC) lost confidence in Thain, a source tells WSJ, after CEO Ken Lewis learned of mounting Q4 losses at Merrill from the transition team rather than from Thain. When Lewis asked Thain what happened, he failed to get a "good explanation for what was happening and why."

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So Ken Lewis has finally - correctly - fired John Thain, Henry Blodget writes. "But don't let this distract you from who is ultimately responsible. No one forced Ken Lewis to buy Merrill Lynch - the decision that, more than any other, destroyed BofA (BAC)... If BofA's board doesn't finally acknowledge this and throw him out, the board should be thrown out, too."

Eppure Thain aveva svalutato a mani basse su quasi tutti gli asset tossici, fino a sostanzialmente azzerarne il valore per molte classi, e si era sbarazzato dei RMBS al prezzo di 21/100 (o erano 22 ? non mi ricordo ) ... sono incline a ritenere che vi fossero altre (e consistenti) esposizioni parcheggiate fuori bilancio...

 

[Broker88]

Eppure Thain aveva svalutato a mani basse su quasi tutti gli asset tossici, fino a sostanzialmente azzerarne il valore per molte classi, e si era sbarazzato dei RMBS al prezzo di 21/100 (o erano 22 ? non mi ricordo ) ... sono incline a ritenere che vi fossero altre (e consistenti) esposizioni parcheggiate fuori bilancio...

Mark però il segnale è pessimo

Da obbligazionista Merrill mi sento quasi "ospite" di BofA e spero di non creare troppo k.sino per evitare che mi caccino a pedate

 

[Imark]

Mark però il segnale è pessimo

Da obbligazionista Merrill mi sento quasi "ospite" di BofA e spero di non creare troppo k.sino per evitare che ci caccino a pedate

Mah, voglio credere che oramai sia fatta per i debitori: con gli altri soldi del TARP dati a BofA per Merrill e le garanzie su ulteriori 118 mld $... certo, è una vicenda travagliatissima.

Agli azionisti di BofA, che si sono visti ridurre il dividendo ad 1 cent ed hanno visto la loro banca dover ricorrere per la seconda volta alle amorevoli cure del soccorso statale, qualcuno in pasto dovevano pur darlo... se fossi azionista BofA, per come si è sviluppata la vicenda, mi sarei appostato al portone principale bazooka in spalla...

 

[METHOS]

Mah, voglio credere che oramai sia fatta per i debitori: con gli altri soldi del TARP dati a BofA per Merrill e le garanzie su ulteriori 118 mld $... certo, è una vicenda travagliatissima.

Agli azionisti di BofA, che si sono visti ridurre il dividendo ad 1 cent ed hanno visto la loro banca dover ricorrere per la seconda volta alle amorevoli cure del soccorso statale, qualcuno in pasto dovevano pur darlo... se fossi azionista BofA, per come si è sviluppata la vicenda, mi sarei appostato al portone principale bazooka in spalla...

Chissà prima o poi la nazionalizzano insiema a citigroup...