Richard Beales and Antony Currie pick over Bank of America's third-quarter loss and its prospects in financial markets that look suddenly vulnerable.
The Bank of America drove to slim third quarter loss on the market today that was kind of expected. The terms of outlook. What broader markets are doing isn't that helpful -- in my that we talk about but this thing's first Bank of America and to me. Guess -- will speak legal shows in the third quarter -- the. Losing a notice that we knew this is coming just not gonna happen again I think you go to building some degree of litigation expense each court whatever its gonna be this close quips 300 million. On top of what they paid for the public justice right also so you'll have some in night out but it. -- -- the foreign exchange issues coming up some banks during moments that yes they since he refused to mention it. So there's always going to be something I think a wonderful to crisis that would have been an artist five point three billion not a pre -- that'll be some info for -- back rather the European banks still listen coming through -- -- Comerica bank's most of the big ones. The go through it. NASA -- Ramona and now the -- as well as the CEO of the bank. He's got some units firing well but looking ahead there are some things he needs to happen at one million kind of built his control -- upload capacity and yet he's done a lot of what can already he's hit expense targets but you know it costs is still pretty high. What about saint Wells Fargo which one of the leaders of the big banks. So it. If you equalize everything -- they'd be the -- them some -- for the quarter annualized seven -- percent which is so much -- -- -- but still -- -- -- -- capital. One of the things being raised pointed to in the possible thanks houses. What happens and interest rates go up by a percentage point whenever it is to say the Fed well spent themselves of integrity -- don't -- anything so there are a couple of days and it is sometimes the last couple of days. We've had markets will out of -- a little bit around the world and today at the tenure you stroke related to the senate and went down one point 8% to one point and that's. That's that's a real problem banks be amazed that that we can get three billion of extra revenue related. Purely for interest rates -- of such right and anything what else you when you make it you may get a get more money or some of the land he gave -- -- of the spread to get as well I don't some things to get to -- Consumer lending is where. Of the Paris of them on a regular parent and increasing consumer which is -- more money has its rates come down here. -- written down -- if that rise gets pushed yes further than it then you waited longer and -- section three billion and going JPMorgan. The beginning he was saying that we think it's about two billion if we go up by race or rather one cents point six. I think it's getting a command line -- -- -- Increases the mole right than some of accessing you don't hit that. These low numbers when looking at to come from a and B if they really has to see it I think of the of the bank accounts I thought it and city that once you really need. To see those interest has got much more they will need it but these of the team banks which really have that the merits on some really -- that -- Some they have a decent ethnic controller. All right thanks as they will leave that will have more breaking news and opening innings for you to work.