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Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
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A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
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Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
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A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
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Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
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A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
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Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
November 18, 2003 at 07:00 PM
NU Online News Service, Nov. 18, 2003, 10:45 a.m. EST – There is nothing in Standard & Poor’s Ratings Services’ scoring methods or its outlook for commercial banking that would permanently rule out granting its top credit rating to commercial banks, says S&P, New York.
Some commercial banks have enjoyed S&P’s “AAA” rating in the past. So why are there no ‘AAA’-rated major banks in the U.S. currently?
It’s because such a bank should not only be financially and competitively positioned to survive, but it also should be able to prove it, by doing well following a period of severe financial stress, S&P says. Such a period is characterized by high unemployment and sharp declines in the nation’s gross domestic product.
“The recent period of mild economic contraction in the U.S. was in no way the kind of stress scenario that would truly test a bank’s ability to perform,” explains S&P credit analyst Michael T. DeStefano.
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