首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
考研
"It could have been worse" was the common refrain as American banks began reporting their second-quarter earnings. Indeed, the s
"It could have been worse" was the common refrain as American banks began reporting their second-quarter earnings. Indeed, the s
admin
2017-04-07
36
问题
"It could have been worse" was the common refrain as American banks began reporting their second-quarter earnings. Indeed, the striking characteristic of the returns was their consistency.【F1】
Big and small, local and national, lenders across the country have been benefiting from some common tailwinds.
Legal settlements are becoming sparser; the economy is expanding, albeit feebly, and the housing market is recovering; auditors are pushing banks to keep releasing loan-loss reserves; and actual losses are trivial.
But avoiding disaster is not really cause for celebration. Consumers continue to shed debt; companies carry ever more cash. Banks’ pre-provision revenue growth is muted, and there has been no recovery in loan growth of the sort seen after previous recessions.【F2】
This is so unusual that it may be unprecedented, says Michael Mayo, an analyst at CSLA, a securities firm, and it hardly suggests a good prediction for the banking system.
He predicts that the current decade will show the worst revenue growth for banks since the 1930s. Pricing and margins will inevitably tighten as a result.
In as much as borrowing activity has shifted from banks’ balance-sheets to the capital markets, some have benefited.【F3】
The investment-banking arm of perpetually troubled Citigroup did well in the second quarter, as did the investment-banking arm of infrequently troubled Goldman Sachs.
Underwriting and advisory revenues rose at both firms. Goldman reaped large gains from its own investments.
But Goldman’s return on equity was still barely in double digits. Its headcount is shrinking, not expanding. That is typically the single best indicator of an investment firm’s perspective on its prospects. Citi’s return on equity was well below Goldman’s, at 6.5%. Investors will not tolerate that sort of performance for ever. A major source of Citi’s revenue is in emerging markets, where conditions are deteriorating.
The likelihood that the overall banking environment will improve in the near future is low. 【F4】
Recent rises in interest rates, prompted by expectations that the Federal Reserve will start slowing the pace of asset purchases, will take a toll on mortgage refinancing, a source of revenue that has produced a large sum of money for banks in recent years.
It is probably no coincidence that share prices for most financial institutions have flattened in recent weeks.
Regulators and politicians are still trying to suppress banks’ risk appetite, not whet it. American financial institutions are already expecting to hold more risk-weighted capital in order to conform with the international Basel 3 standards. 【F5】
Worried by the potential for banks to game the calculations that support these same risk weightings, regulators this month proposed a higher "leverage ratio", a measure of capital that reflects the overall size of a bank’s balance-sheet as well as its riskiness.
The proposal calls for a 5% leverage ratio at the holding-company level, and 6% at the level of the bank, for the eight largest banks; Bank of America, BNY Mellon, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, State Street and Wells Fargo.
【F5】
选项
答案
银行可能会操纵证实这些相同风险权重的计算,这种潜在可能性让监管者非常担心,他们于本月建议提高“杠杆率”,这是一种衡量资本的指标,能反映出银行资产负债表的总体规模及其风险性。
解析
转载请注明原文地址:https://kaotiyun.com/show/AbbZ777K
0
考研英语一
相关试题推荐
"TheHeartoftheMatter,"thejust-releasedreportbytheAmericanAcademyofArtsandSciences(AAAS),deservespraiseforaffi
"TheHeartoftheMatter,"thejust-releasedreportbytheAmericanAcademyofArtsandSciences(AAAS),deservespraiseforaffi
TheUS$3-millionFundamentalPhysicsPrizeisindeedaninterestingexperiment,asAlexanderPolyakovsaidwhenheacceptedt
TheUS$3-millionFundamentalPhysicsPrizeisindeedaninterestingexperiment,asAlexanderPolyakovsaidwhenheacceptedt
Duringthepastgeneration,theAmericanmiddle-classfamilythatoncecouldcountonhardworkandfairplaytokeepitselffin
Overthepastdecade,thousandsofpatentshavebeengrantedforwhatarecalledbusinessmethods.Amazon.comreceivedonefori
Overthepastdecade,thousandsofpatentshavebeengrantedforwhatarecalledbusinessmethods.Amazon.comreceivedonefori
Today,some30%ofsmallbusinessownersdon’thaveaWebpresenceatall,whilethevastmajoritywhodoarewatchingtheirsit
WholesalepricesinJulyrosemoresharplythanexpectedandatafasterratethanconsumerprices,【C1】______thatbusinesseswer
WholesalepricesinJulyrosemoresharplythanexpectedandatafasterratethanconsumerprices,【C1】______thatbusinesseswer
随机试题
螺杆式压缩机的内压比与外压比在()时效率最高。
根据《合同法》的规定,债权人领取提存物的权利期限为()年。
“进口口岸”栏应填报()。“起运国”栏应填报()。
由操作风险可能引发的风险有()
以下关于发行认股权证的说法中,正确的有()。
《次北固山下》是唐代诗人王湾的作品。此诗以准确精练的语言描写了春末夏初时作者在北固山下停泊时所见到青山绿水、潮平岸阔等壮丽之景,抒发了作者深深的思乡之情。()
企业可以把整条供应链全权交给第______方物流运作,它可为供应链功能或流程的全部提供完整的服务。
以下说法正确的是:
•Readthearticlebelowabouttheimportanceofstaffappraisals.•Choosethebestsentencefromtheoppositepagetofilleac
Animalsdonoteatmorethantheirbodiesneed.Theyseemtohavethe(1)______toeatwhentheyarehungry.Ithasbeendemonst
最新回复
(
0
)