Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: goldsheet who wrote (65195)	3/9/2001 7:09:49 AM
From: Richard Mazzarella	Respond to of 116779

Bob, <<on a gold standard for only about 15%>> A little longer than the NASDAQ. <VBG>

To: goldsheet who wrote (65195)	3/9/2001 7:49:05 AM
From: long-gone	Respond to of 116779

Thursday March 8, 6:16 pm Eastern Time U.S. banking official warns of earnings hit in the industry WASHINGTON, March 8 (Reuters) - A top U.S. banking official on Thursday said future earnings of domestic banks may likely take a hit down the road as the lending institutions set aside more funds in case loans go bad in a sluggish economic climate. Despite overall improvements in the risk management practices of banks, models have shown that there is an increase in the default risk of U.S. publicly traded companies that in turn may lead to a rise in credit risk in the overall banking system, said John Hawke, U.S. Comptroller of the Currency. ``Now, with the economy in a slowdown, one investment firm projects a 50 percent increase in loan losses this year over last,'' Hawke said in a speech prepared for delivery to independent community bankers in Las Vegas. The text of his speech was released in Washington. The Federal Deposit Corporate Insurance Corp. (FDIC) said annual U.S. commercial bank earnings fell for the first time in nine years in 2000 as banks put aside more money to cover bad loans and lost money on the sale of securities. Hawke's comments follows the announcement by the FDIC that the non-current loan rate for commercial and industrial loans, a significant factor affecting the higher loan loss provisions, stood at 1.67 percent at the end of 2000 as compared with 1.17 percent at the end of 1999. Still, Hawke said the industry was stronger than it was 10 years ago and the experience of the early 1990s has taught regulators the value of a supervisory approach that is modulated and predictable. ``The bankers today -- and not only the largest banks -- are using more sophisticated analytical tools and computer models to manage increasingly complex risk,'' he said. The comptroller said his office has done much to improve its ability to communicate with national banks, including the establishment if National BankNet, a secure Internet site available only to banks. biz.yahoo.com