Kreditrisikovorsorge bei US-Banken

Hmm...vielleicht müssen sich die US-Geldmarktfondsmanager doch wieder zuhause umsehen. Bank of America muß sportliche 8,5 Milliarden (!!!) USD Schadenersatz an diverse Investoren wie BlackRock, Pimco oder die NY Fed (immer mittendrin statt nur dabei...) leisten, wie üblich weil Investment-Risiken nicht korrekt dargestellt wurden. Zerohedge hat eine hübsche Graphik, die die Kreditrisikovorsorgemaßnahmen mit den potentiellen Risiken vergleicht:

Wie sieht es branchenweit aus, also dort, wo die anderen rund 50% der US-Geldmarktfonds-Assets liegen?

Mish hat die Graphik mal in 2010 schön erklärt:

"To further clarify, the chart depicts the ratio of loan loss provisions to nonperforming loans across the entire banking system (all banks). There are 33 ALLL charts by bank size and region for inquiring minds to consider. The above chart is the aggregate.

The implication what the chart suggests is that banks believe nonperforming loans are NOT a problem (or alternatively they are simply ignoring expected losses to goose earnings).

The implication what I suggest is banks earnings have been overstated. Why? Because provisions for loan losses are a hit to earnings. I believe losses are coming for which there are no provisions.

The chart depicts a form of "extend and pretend" and overvaluation of assets on bank balance sheets. The Fed and the accounting board ignore this happening (encourage is probably a better word), hoping the problem will get better. With more foreclosures and bankruptcies on the horizon, I suggest it won't.

Wir haben im Dezember 2009 das hier dazu berichtet:

Ex-Goldman Managing Director: Wall-Street Banken schlimmer als ENRON?