Items Tagged with 'Ownership equity'


  • $150bn of Assets May Return to BofA's Balance Sheet in 2010

    Bank of America [stock BAC][/stock] may soon bring some $150bn of off-balance-sheet assets back onto its balance in Q110 with the implementation of a new accounting rule, FAS 167, potentially pressuring its capital reserves. Of the assets the bank says it may bring to its balance sheet, home equity conduits account for an estimated $12bn, while card securitizations account for $85bn, and other variable interest entities make up the remaining $53bn, according to an equity research note by Keefe, Bruyette & Woods' (KBW) Jefferson Harralson.
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  • Wells Fargo Q1 Profits Packed with Accounting Gain

    Last week, Wells Fargo & Co [stock WFC][/stock] pre-announced $3bn in expected profit and growth for the first quarter of 2009, along with growth in a closely-watched earnings ratio known as tangible common equity. The stock soared over 30 percent on the incomplete earnings news, with an official announcement due later this month.
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  • BofA Needs $80 Billion in Fresh Capital: Analyst

    Friedman, Billings, Ramsey analyst Paul Miller made waves Tuesday by suggesting that Bank of America Corp. [stock BAC][/stock] needs more than $80 billion in new common equity capital, thanks to a ballooning balance sheet of assets tied to its acquisitions of Countrywide Financial and Merrill Lynch. Miller suggested that BofA would also need to cut its dividend to preserve capital, and moved his target price to $5/share.
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  • Fannie, Freddie See Rally Fizzle; Questions Linger On

    Is the Paulson/Bernanke plan enough? Stock market investors surely didn't seem to think so on Monday, with an early rally in shares on battered housing finance giants Fannie Mae [stock FNM][/stock] and Freddie Mac [stock FRE][/stock] fizzling and shares in both companies resuming their downward slide Monday afternoon.
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