(THREAD) U.S. #banks reported earnings, highlighting how #COVID19 impacts their outlook:
1.) @GoldmanSachs on #lending: "We will be cautious in terms of credit extension & growing that book. & we'll return to grow that book once this circumstance and market volatility passes."
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3.)
@WellsFargo on#CCAR: "To dimension it compared to other scenarios, thinking about both our performance in the#financialcrisis as well as our own CCAR severely adverse scenarios... we see this as not generating that level of loss in our own CCAR severely adverse scenarios."1 reply 0 retweets 2 likesShow this thread -
4.)
@BofA_Business on#consumerspending: "The overall spending of all types of spending in our customers seems to have stabilized in the last few weeks. During mid-April, we're seeing spending run at about a low $50B avg level compared to a $60B average level before the crisis."1 reply 0 retweets 2 likesShow this thread -
5.)
@MorganStanley on#deposits: "We did see a surge in deposits in March, almost $30B in the month of March alone. And the balances are up $45B for the quarter. That was generally a result of people shifting out of#equities and going into#cash in the#wealthsystem"1 reply 0 retweets 2 likesShow this thread -
@Citi on#dividends: "To be clear, in our capacity here and the way we're looking at things, we remain committed to paying our dividend."1 reply 0 retweets 2 likesShow this thread
Read @AlphaSenseInc's full article "Big Bank Earnings: Trends in Executive Commentary" here:
https://www.alpha-sense.com/insights/big-bank-earnings …pic.twitter.com/GxrT4HV54a
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