Regional US banks in fears of cash calls
From: FT.com
US regional banks will draw scrutiny during earnings season this week amid fears that losses on home equity and residential construction loans may force some to raise fresh capital or put themselves up for sale in turbulent markets.Shares of regional lenders have come under heavy pressure on fears about the ability of smaller institutions to ride out the turmoil in the banking sector.
Such fears were thrown into stark relief last week after US banking regulators took over California-based IndyMac, making it the second-largest banking failure in US history, and leading to queues of anxious depositors outside branches.
After mixed earnings reports from regional lenders thus far, a flurry of banks with large portfolios of real-estate loans will report their second-quarter results on Tuesday, including SunTrust, Regions Financial, Fifth Third and KeyCorp, while National City will follow on Thursday.
Last week, Pittsburgh-based PNC and Ohio-based Huntington BancShares were the only two banks to report higher profits in the second quarter.
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