March 2, 2020 / 8:18 PM / a month ago

BRIEF-Fitch Says Corononavirus-Induced Rate Drop A Downside Risk To U.S. Bank Profitability

March 2 (Reuters) - Fitch:

* FITCH SAYS CORONONAVIRUS-INDUCED RATE DROP A DOWNSIDE RISK TO U.S. BANK PROFITABILITY

* FITCH SAYS IF COVID-19 OUTBREAK IS QUICKLY CONTAINED, DISRUPTION IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON CREDITWORTHINESS OF U.S. BANKS

* FITCH SAYS PROLONGED SEVERE DISRUPTION DUE TO CORONAVIRUS OUTBREAK COULD NEGATIVELY AFFECT U.S. BANK EARNINGS, CAPITAL LEVELS AND ULTIMATELY RATINGS

* FITCH SAYS CREDIT PROVISIONING FROM U.S. BANKS WILL LIKELY INCREASE, PUTTING FURTHER PRESSURE ON BANK PROFITS DUE TO CORONAVIRUS (COVID-19) OUTBREAK Source text for Eikon:

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