Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: pater tenebrarum who wrote (88122)	4/2/2001 8:37:54 AM
From: Box-By-The-Riviera™	Read Replies (2) of 436258

WASHINGTON (Dow Jones)--Bank of New York Co. (BK) expects to see an increase of nonperforming loans in 2001 due to the softness in the economy, according to its annual report filed Friday with the Securities and Exchange Commission. As a result, the company anticipates a modest rise in its loan loss provisions and net charge-offs, the filing said. In 2000, nonperforming assets increased by $35 million, or 22%, to $193 million due to a gradual deterioration in credit quality. Bank of New York, however, said its emphasis on fiduciary, securities servicing and cash processing services has resulted in an increased exposure to the financial services sector. That exposure tends to be lower-risk secured liquidity lines to investment grade companies. The company also said its most significant concentrations of risk are to the financial services and the media and telecommunications sectors. -By Donna Hemans, Dow Jones/Federal Filings; 202-628-7691; donna.hemans@dowjones.com (END) DOW JONES NEWS 03-30-01 12:09 PM

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