Coleman Research Group’s Business and Financial Services Group facilitates consultations between our clients (institutional investors) and leading business and financial services professionals on a wide variety of topics including consumer credit trends, banking and investment services, insurance, residential and commercial real estate, student lending, and regulatory issues.
Our Business & Financial network includes an elite assembly of current and former CFOs and senior executives, accountants, former regulatory officials, academics, and top-level industry consultants.
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Fed releases stress-test methodology
April 27, 2009
The Federal Reserve has pulled back the curtain on its banking stress tests when it released the methodology behind government-mandated analyses recently completed at the nation’s 19 largest banks.
Charlotte-based Bank of America Corp. (NYSE: BAC) and the former Wachovia Corp., now part of Wells Fargo & Co. (NYSE: WFC), both participated in the tests, officially called the Supervisory Capital Assessment Program (SCAP). The tests were designed to determine the capital needs of the major banks that control the majority of the lending activity in the country.
The information released Friday explained how the tests were conducted, but didn’t provide specific information on the participating banks or the overall health of the industry. That information is expected to be released, at least in part, in early May. In the meantime, the participating banks will have time to review the results and challenge the findings.
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Credit Suisse Chmn Backs Integrated Banking Model To Hldrs
April 27, 2009
ZURICH (Dow Jones)--Credit Suisse Group's (CS) outgoing chairman Friday backed the Swiss bank's integrated business model at a Friday shareholder meeting, according to prepared remarks.
"There is no question about the fact that the integrated bank is an effective response to the needs of our clients," bank Chairman Walter Kielholz said.
Credit Suisse runs private banking, or financial services for wealthy individuals, alongside an investment bank, and argues the two disparate units can be closely linked to parlay more revenue out of each.
Kielholz steps down Friday because he has been elected chairman of Swiss Reinsurance Co. (RUKN.VX). Hans-Ulrich Doerig, who is the bank's vice-chairman, is expected to be approved by shareholders to replace Kielholz as Credit Suisse chairman at Friday's meeting.
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