For banks, loan losses likely to overshadow trading profits as banks report earningsOctober 13th, 2009 Loan losses could eclipse positive bank earningsNEW YORK — If the nation's major banks report big third-quarter profits, don't take the numbers at face value. Although trading gains could drive strong earnings for banks like JPMorgan Chase & Co.
Regulators say lenders expected to lose $53 billion in 2009 on loans larger than $20 millionSeptember 25th, 2009 US large-loan bank losses triple to $53 billionCHARLOTTE, N.C. — U.S. regulators said total losses from large loans at banks and other financial institutions nearly tripled to $53 billion in 2009, due to a deteriorating economic environment and continued weak underwriting standards.
Fed examiners stepping up oversight of commercial real estate loans at smaller banksSeptember 16th, 2009 Fed tightens review of commercial real estate riskWASHINGTON — The Federal Reserve is stepping up its scrutiny of commercial real estate loans at smaller banks, where delinquency rates have risen sharply. Instead of reviewing individual banks, Fed examiners are comparing results across the industry to better assess broader risks, a Fed official said Wednesday.
IRS issues rules making it easier to refinance some commercial real estate mortgagesSeptember 15th, 2009 IRS issues rules to ease mortgage refinancingWASHINGTON — The IRS issued new rules Tuesday designed to make it easier to refinance some commercial real estate loans in an effort to curb the number of defaults. The rules would allow commercial loans that are part of investment pools known as Real Estate Mortgage Investment Conduits, or REMICs, to be refinanced without triggering tax penalties for investors.
Federal Reserve imposes restrictions on banks in Nebraska and Missouri and their ownerSeptember 3rd, 2009 Federal Reserve imposes restrictions on 2 banksOMAHA, Neb. — The Federal Reserve has imposed restrictions on two correspondent banks in Nebraska and Missouri owned by Midwest Independent Bancshares Inc.
Regions cut to Hold from Buy, analyst cites share price surge, commercial real estate concernsAugust 20th, 2009 Ahead of the Bell: Regions FinancialNEW YORK — Regions Financial Corp. was downgraded Wednesday by an analyst because a recent surge in its share price brought it in line with expectations, and the regional bank could still face steep losses from commercial real estate exposure.
Fitch affirms ratings for Convergys, although outlook remains negativeAugust 10th, 2009 Fitch affirms ratings for ConvergysNEW YORK —Fitch Ratings said on Monday it was affirming several ratings for Convergys Corp. and removing it from Rating Watch Negative.
Hearst Corp. buys another 20 percent stake in Fitch Group for $427 millionJuly 24th, 2009 Hearst buys added 20 pct stake in Fitch for $427MNEW YORK — Hearst Corp. is buying an additional 20 percent stake in Fitch Group for $427 million.
Meltdown 101: Commercial real estate market woes could spell trouble for banks and the economyJuly 22nd, 2009 Meltdown 101: Commercial real estate in distressThe residential housing market went into a tailspin over a burst housing bubble and a whole lot of bad mortgages. The commercial real estate market has suffered a different sort of one-two punch.
Experts, lawmakers warn of mushrooming crisis in commercial real estateJuly 9th, 2009 Commercial real estate woes growWASHINGTON — Owners of shopping malls, hotels and offices are defaulting on their loans at an alarming rate, and the commercial real estate market is not expected to hit bottom for three more years, industry experts warned Thursday. "The commercial real estate time bomb is ticking," said Rep.
Fed official says central bank stepping up focus on commercial real estate loansJuly 9th, 2009 Fed focused on commercial loansWASHINGTON — A Federal Reserve official says the central bank is paying extra attention to banks' books as losses from sour commercial real estate loans keep mounting. Jon D. Greenlee, associate director of the Fed's division of banking supervision, says in remarks prepared for a Congressional hearing Thursday that the central bank has stepped up training of its bank examiners so they are ready to deal with rising losses from the commercial real estate industry.
Fitch raises Ventas Inc.'s investment-grade debt ratingsJuly 1st, 2009 Fitch lifts Ventas' investment-grade ratingsNEW YORK — Fitch Ratings on Wednesday raised the investment-grade ratings of Ventas Inc., citing steps the real estate investment trust has recently taken to shore up its capital position. The credit ratings agency upgraded its issuer default rating for Ventas and its subsidiaries to BBB from BBB-.
Whitney Holding hit by Fitch Ratings downgradeJuly 1st, 2009 Whitney hit by Fitch Ratings downgradeNEW ORLEANS — Fitch Ratings has cut its rating on regional banker Whitney Holding Corp. citing its nonperforming assets, much of them related to Florida real estate.
Fitch downgrades Comerica's investment-grade debt ratings, with negative outlookJuly 1st, 2009 Fitch downgrades Comerica debt ratingsNEW YORK — Fitch Ratings on Wednesday cut Comerica Inc.'s investment-grade debt ratings, saying the bank's profitability is increasingly threatened by higher credit costs and the recession. Fitch lowered its issuer default ratings on Comerica and its lead bank Comerica Bank one notch to A from A+, keeping the rating within investment-grade range.
Investors show no appetite for Fed program to bolster commercial real estate loansJune 17th, 2009 Commercial real estate loans draw no interestWASHINGTON — Investors showed no appetite for commercial real estate loans in the debut of a government plan intended to boost their availability. The Federal Reserve Bank of New York said it received no investor requests for loans by Tuesday's deadline.
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