Seeking Alpha
Seeking Alpha Portfolio App for iPad
Finance
(1)
Market Currents

Dimon: "We expect to continue to be challenged by high default-related expenses." Regulatory...

  • Friday, October 12, 2012, 8:52 AM ET
    Dimon: "We expect to continue to be challenged by high default-related expenses." Regulatory guidance (pg. 8 of the presentation) is forcing higher charge-offs - $825M, or $0.14/share in Q3 - on certain mortgage loans. Wells Fargo (WFC) reported an additional $567M in charge-offs due to this. Keep an eye on BAC and C reports. JPM -0.7% premarket.
Track new comments on this story

This news story has 1 comment:

  •  
    So two large banks report earnings that (blended) are about what was expected, reserve releases about what was expected, with projections about what was expected, and with the NIM down on WFC (but still better than most). Market spiked after JPM, fell after WFC, and now both are down along with all the other banks. Overreaction?
    12 Oct 2012, 03:41 PM Reply Like
LATEST|
TODAY SO FAR|
YESTERDAY
Other date
DJIA (DIA) S&P 500 (SPY)
Latest Articles on Financials
More Latest Articles »