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JPMorgan (JPM) should see a slight boost to earnings, says UBS' Brennan Hawken, as it redeems...

  • Tuesday, June 12, 2012, 9:01 AM ET
    JPMorgan (JPM) should see a slight boost to earnings, says UBS' Brennan Hawken, as it redeems $9B in high-cost trust preferred capital securities. New Fed rules exclude the use of this paper as Tier 1 capital. (PR). Other banks are also redeeming.
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    With average interest of 6%, JPM to gain about US$ 540 million before tax per annum. The additional advantage would be strengthening of Tier 1 capital requirement. We can now expect resumption of buy back of shares.
    12 Jun 2012, 10:33 AM Reply Like
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