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24 Sep 09

Editorial - A Small Step Back From Usury - NYTimes.com

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usury financial reform banks

29 Aug 09

Halting Recovery Divides America in Two - WSJ.com

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stratification banks

At one extreme of Corporate America is a cadre of companies and banks, mostly big, united by an enviable access to credit. At the other end are firms, chiefly small, with slumping sales that can't borrow or are facing stiff terms to do so.
The split between companies that can borrow and those that can't shows the extent to which any recovery depends on reviving the nation's ailing banks and squeamish credit markets. Until that happens, the vigor of the economy will remain in doubt.
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- Mr. Graham, who oversees a quarterly survey of CFOs, says more companies are doing better than they were a few months ago. Still, he estimates, one in four is in "dire straights due to lack of profits combined with not being able to borrow."
- "Once you see lower-credit-quality companies get access to loans, that will be a sign the capital markets are turning."
- Big lenders are currently enjoying an advantage in their "cost of funds" -- the raw material of a bank, which is in the business of borrowing cheaply and lending at a higher rate. The handful of banks with more than $10 billion in assets were paying 1.18% to borrow money in the second quarter, the FDIC said in data issued Thursday. By contrast, banks with $100 million and $1 billion in assets were paying 1.97%, a big difference in a business where tenths of a percentage point translates into millions of dollars in profits.
- Usually it is the other way around -- small banks pay less. But large banks have always obtained a much larger share of their funding from sources other than deposits, such as borrowing short-term from other banks at the federal funds rate, which is largely set by the Federal Reserve. With the Fed holding that rate near zero, large banks are benefiting more than smaller banks.
- Some big banks, like J.P. Morgan Chase & Co., U.S. Bancorp, PNC Financial Services Group Inc. and BB&T Corp., have cemented their megabank status by gobbling up rivals that were seized by regulators. As of June 30 the three largest banks -- Bank of America, Wells Fargo, and J.P.Morgan -- collectively had $2.3 trillion in domestic deposits, or 31% of the industry total, according to the Federal Deposit Insurance Corp. Two years earlier, the top three had only 20% of the industry total.

10 Aug 09

Bad debts at top banks reach £85bn since onset of credit crunch | Business | guardian.co.uk

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debt as people's opium UK banks credit crisis credit crisis legacy

13 Jul 09

FDIC's Challenge With Busted Banks - WSJ.com

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FDIC banks

29 May 09

Off the Charts - Troubled Bank Loans Hit a Record High - NYTimes.com

www.nytimes.com/...30charts.html - Preview

banks credit crisis

Overall loan quality at American banks is the worst in at least a quarter century, and the quality of loans is deteriorating at the fastest pace ever, according to statistics released this week by the Federal Deposit Insurance Corporation.
The report highlighted that even as the government and major banks have scrambled to deal with the impaired securities the banks own, the institutions have been plagued by an unprecedented volume of old-fashioned loans going bad.
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- Of the entire book of loans and leases at all banks — totaling $7.7 trillion at the end of March — 7.75 percent were showing some sign of distress, the F.D.I.C. reported. That was up from 6.9 percent at the end of 2008 and from 4.1 percent a year earlier. It also exceeded the previous high of 7.26 percent set in 1990 and 1991, during the last crisis in American banking.
  The F.D.I.C. has been collecting the figures since 1984.