The six largest credit card issuers have set aside billions of dollars worth of reserves in response to the novel coronavirus as well as the adoption of the Financial Accounting Standards Board’s new credit losses standard.
A backlash is growing among regulators and participants against EBITDA — earnings before interest, taxes, depreciation, amortization and coronavirus.
The pandemic and the new accounting standard are leading to lower regulatory capital ratios at global investment banks, according to a new report.
Early official estimates of current fiscal year revenue drops include $353 million in Arkansas, $396 million in Colorado, $219 in Oklahoma and $224 million in Vermont.
Moody’s lowered the giant IBD network’s credit rating with sobering words that could resonate across wealth management.
Moody’s affirmed the company’s “B3” rating but signalled the potential wide-reaching impact of the pandemic across wealth management.