Can Singapore banks achieve 2x P/Bs again? In May 2007, just before the credit crisis struck, Singapore banks were trading at post-Asian financial crisis high P/B multiples: DBS at 1.9x, and UOB and OCBC at 2.2x. Their ROEs in 1H07 worked...
Table of Contents Loan growth A big push and very little pull ................................. 3 Margin compression and how long it lasts ..................................... 7 The bond yield connection .....................................
Table of Contents Executive summary..................................................................3 Regulatory analysis 1: Centralised clearing of OTC derivatives.............................................................................
Table of Contents Regulatory Proposal 1: Centralised clearing of OTC derivatives...............................................................................14 Regulatory Proposal 2: Migrating standardized OTC derivatives to exchanges:.....
Value of global MA reached sevenyear low in Q2 2009, but number of deals gained for first time since Q2 2007 Deal activity in emerging markets rebounded strongly and the block now accounts for a third of global deal value (a record high) W...
China Banks 2Q09 may modestly surprise, but 2H09 may see more earnings momentum on NIM upside; accumulate China Banks Samuel ChenAC (852) 2800-8557 samuel.s.chen@jpmorgan.com Sunil Garg (852) 2800-8518 sunil.garg@jpmorgan.com Joseph Leung...
内容摘要 旧金山联储John Williams 撰写的最新研究支持了我们对美联储政策的观点，即徘徊在零附近的联邦基金利率严重地束缚了货币政策的手脚，进而造成经济增长乏力以及导致推迟加息（大多数预测者目前预测加息出现在2010 年）。在模拟了负利率可能如何影响...
Contents Buy Banks: Look Beyond The Provisions Cycle 5 Top pick DBS, but UOB has more near-term price catalysts 5 High provisions charges marred strong 2Q09 results 6 But ROEs may rise to 12-15% once the provision cycle ends 8 Singapore St...
Low long-term interest rates are negative for bank net interest margins (NIMs), as the US 10Y Treasury Yield exhibited a 75% correlation with regional bank NIMs since 1990. As Credit Suisse Interest Rate Strategist Dominic Konstam forecast...
Table Of Contents 1. Deposits #1048707; Total Deposits 4 #1048707; Core deposits 5 #1048707; Large Time deposits 6 #1048707; Money Market Funds 7 #1048707; Deposits vs. Loans 8 2. Loans Total Loans 10 CI Loans 11-12 Consumer Loans 13-14 Re...
