Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Goldman Sachs Group    GS

Delayed Quote. Delayed  - 08/21 07:22:07 pm
219.97 USD   -0.98%
08/20 Goldman Sachs gets approval for Saudi equities trading license
08/19DJGOLDMAN SACHS : Wrong-Way Gas Bet Costs Goldman -- WSJ
08/18 DOW MOVERS : Nke, gs
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Major Banks Raise Concerns Over New Rules With Fed's Tarullo

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/02/2012 | 10:14pm CEST

(Updates throughout with details and background.)

 
   By Alan Zibel and Ian Talley 
   Of  
 

Top executives from six major U.S. banks on Wednesday discussed concerns over new industry regulations and the central bank's recent "stress tests" with Federal Reserve Gov. Daniel Tarullo, the Fed said in a summary of the meeting.

The Fed released a short summary of Tarullo's meeting, which lasted about one hour and 15 minutes and was held at the Federal Reserve Bank of New York.

The chief executives present included Goldman Sachs (>> Goldman Sachs Group, Inc.) chief executive Lloyd Blankfein, J.P. Morgan Chase & Co. (>> JPMorgan Chase & Co.) chief executive Jamie Dimon and Bank of America Corp. (>> Bank of America Corp) chief executive Brian Moynihan and James Gorman, chief executive of Morgan Stanley (>> Morgan Stanley).

The meeting partly focused on the tests of banks' financial health conducted by the Fed in mid-March, according to the central bank's summary. Some banks have been critical of the process, questioning gaps between their own internal estimates of their capital cushions and that of the central bank.

Tarullo said last month the central bank will consult with academics, analysts and banks to improve the stress test process. In a speech, he said "there should be some ways" for the Fed to better explain its mathematical models to banks.

The bank executives also were critical of numerous rules resulting from the 2010 Dodd-Frank financial overhaul. Particularly of concern was a proposal to limit the biggest banks' exposure to other firms and governments, which the banks contend could harm the financial system.

They were concerned about "the extent to which the proposed rules would overstate credit risk for certain transactions and would establish a more stringent credit exposure limit for the largest financial firms," the Fed said.

Tarullo told the banks that he would neither "respond or reply" to the banks' views, according to the Fed summary.

Also attending the meeting were Richard Davis, chief executive of U.S. Bancorp (>> U.S. Bancorp) and Jay Hooley, chief executive of State Street Corp. (STT).

The bank chief executives were also concerned about several other aspects of Dodd Frank, the Fed said. Those include: the so-called Volcker rule, which limits their ability to trade for their own profit; a mandate that banks retain a portion of the risk for assets such as mortgages that are packaged into securities; and a provision that requires banks to stop relying on credit ratings.

-By Alan Zibel, Dow Jones Newswires; 202-862-9263; alan.zibel@dowjones.com

--Victoria McGrane contributed to this report.

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GOLDMAN SACHS GROUP
08/20 Goldman Sachs gets approval for Saudi equities trading license
08/19DJGOLDMAN SACHS : Wrong-Way Gas Bet Costs Goldman -- WSJ
08/18 DOW MOVERS : Nke, gs
08/18 GOLDMAN SACHS : James Lowe Graduates From Goldman Sachs 10,000 Small Businesses ..
08/18DJGOLDMAN SACHS : Wrong-Way Gas Bet Fueled Goldman's Second-Quarter Swoon
08/18DJPensions Sue Banks, Allege Abuses -- WSJ
08/17 U.S. pension funds sue Goldman, JPMorgan, others over stock lending market
08/17 EXCLUSIVE : SEC officials' holdings, legal work, pose potential conflicts
08/17DJGOLDMAN SACHS : Pension Funds Sue Six Banks, Claiming Stock-Lending Abuses
08/17 Wood Group - Recommended all share off for Amec Foster Wheeler, CMA accepts r..
More news
News from SeekingAlpha
11:03a First Republic Bank's Stock May Be Too Rich For The Market To Handle
10:49a It's Time To Buy Banks
10:04a BANK OF AMERICA : Comparing Loan And Deposit Growth To JPMorgan Chase
07:56a It's Time To Take Bitcoin And Blockchain Technology Seriously
06:59a WALL STREET BREAKFAST : A Pick Up In Energy Deals
Financials ($)
Sales 2017 31 056 M
EBIT 2017 10 774 M
Net income 2017 7 456 M
Debt 2017 -
Yield 2017 1,33%
P/E ratio 2017 12,25
P/E ratio 2018 11,22
Capi. / Sales 2017 2,77x
Capi. / Sales 2018 2,66x
Capitalization 85 944 M
Chart GOLDMAN SACHS GROUP
Duration : Period :
Goldman Sachs Group Technical Analysis Chart | GS | US38141G1040 | 4-Traders
Technical analysis trends GOLDMAN SACHS GROUP
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 29
Average target price 235 $
Spread / Average Target 5,8%
EPS Revisions
Managers
NameTitle
Lloyd Craig Blankfein Chairman & Chief Executive Officer
Harvey Mitchell Schwartz Co-President & Co-Chief Operating Officer
David Michael Solomon Co-President & Co-Chief Operating Officer
R. Martin Chavez Chief Financial Officer & Executive VP
James A. Johnson Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
GOLDMAN SACHS GROUP-7.22%85 944
MORGAN STANLEY7.43%83 362
CHARLES SCHWAB CORP0.10%52 909
CITIC SECURITIES CO LTD3.99%29 226
NOMURA HOLDINGS INC-8.49%21 962
HUATAI SECURITIES CO., LTD.8.40%19 217