- After a review of the Fed's stress test publication (in which it showed the details of its exam), the bank says results were worse than it had expected thanks to: 1) Significantly higher commercial real estate losses 2) Significantly greater risk-weighted assets, and 3) Lower pre-tax, pre-provision net revenue.
- Zions again notes its original submission to the Fed occurred prior to its sale of certain CDOs in January and February, with said sales resulting in a substantial reduction in risk.
- The bank expects its resubmission will result in it having equity capital sufficient to meet or exceed minimum ratios set by the Fed under its severely adverse scenario.
- ZION -1.3% premarket
- Press release
From other sites
at CNBC.com (Dec 19, 2014)
at CNBC.com (Dec 12, 2014)
at CNBC.com (Dec 8, 2014)
at CNBC.com (Oct 20, 2014)
at CNBC.com (Sep 19, 2014)
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