From Friday, the US banks will present their figures for the second quarter.
(Photo: AP)
Denver It’s been quiet again for the time being. At the beginning of May, turbulence at regional banks in the USA shook the sector. But the current calm shouldn’t give investors a false sense of security. Investors have to be prepared for a mixed picture when the US institutes present their results for the second quarter from Friday. There are a whole series of problems that are troubling the institutes.
Experts estimate that the six largest banks alone – JP Morgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley – will have to write down around five billion dollars. According to analyst estimates by the Bloomberg news service, the six houses would probably have to set aside a further 7.6 billion dollars for increasing risk provisions.
The abrupt turnaround in interest rates and its consequences are leaving more traces than before on the books of the big banks. But where exactly are the difficulties?
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