Capital One is a top 10 bank and 5th largest credit card issuer. It has seen weakening credit metrics that reflect the deteriorating US economy. The company increased its loan loss allowance by $310M in Q108 to prepare for expected losses. While credit costs rose, increased revenue margins largely offset the impact. Capital One continues efficiency initiatives and managing its balance sheet to sustain profitability despite credit headwinds.
The report on Pensions & Benefits in the COTN as presented by the presiding General Superintendent to the 2012 Assembly of the Rocky Mountain District.
The report on Pensions & Benefits in the COTN as presented by the presiding General Superintendent to the 2012 Assembly of the Rocky Mountain District.
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Financial Analysis - EFG Financial Products Holding AG provides financial services in a number of areas most notably structured products, asset management and pension solutions
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Financial Analysis - EFG Financial Products Holding AG provides financial services in a number of areas most notably structured products, asset management and pension solutions
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
NO1 Uk Black Magic Specialist Expert In Sahiwal, Okara, Hafizabad, Mandi Bah...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
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how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
capital one Keefe, Bruyette & Woods, Inc. Diversified Financial Services Conference Presentation
1. KBW 2008 Diversified Financials Conference
Gary Perlin
Chief Financial Officer
June 5, 2008
2. Forward looking statements
Forward-Looking Information
Please note that the following materials containing information regarding Capital One’s financial performance speak only as of the particular
date or dates indicated in these materials. Capital One does not undertake any obligation to update or revise any of the information
contained herein whether as a result of new information, future events or otherwise.
Certain statements in this presentation and other oral and written statements made by the Company from time to time, are forward-looking
statements, including those that discuss strategies, goals, outlook or other non-historical matters; projections, revenues, income, returns,
earnings per share or other financial measures for Capital One and/or discuss the assumptions that underlie these projections, including
future financial and operating results, and the company’s plans, objectives, expectations and intentions. To the extent that any such
information is forward-looking, it is intended to fit within the safe harbor for forward-looking information provided by the Private Securities
Litigation Reform Act of 1995. Numerous factors could cause our actual results to differ materially from those described in forward-looking
statements, including, among other things: general economic and business conditions in the U.S. and or the UK, including conditions
affecting consumer income, spending and repayments, changes in the credit environment in the U.S. and or the UK, including an increase or
decrease in credit losses, changes in the interest rate environment; continued intense competition from numerous providers of products and
services that compete with our businesses; financial, legal, regulatory or accounting changes or actions; changes in our aggregate accounts or
consumer loan balances and the growth rate and composition thereof; the amount of deposit growth; changes in the reputation of the credit
card industry and/or the company with respect to practices and products; the risk that Capital One’s acquired businesses will not be
integrated successfully; the risk that synergies from such acquisitions may not be fully realized or may take longer to realize than expected;
disruption from the acquisitions making it more difficult to maintain relationships with customers, employees or suppliers; the risk that the
benefits of the Company’s restructuring initiative, including cost savings, may not be fully realized; our ability to access the capital markets at
attractive rates and terms to fund our operations and future growth; losses associated with new products or services; the company’s ability to
execute on its strategic and operational plans; any significant disruption in our operations or technology platform; our ability to effectively
control our costs; the success of marketing efforts; our ability to recruit and retain experienced management personnel; changes in the labor
employment market; general economic conditions in the mortgage industry; and other factors listed from time to time in reports we file with
the Securities and Exchange Commission (the “SEC”), including, but not limited to, factors set forth under the caption “Risk Factors” in our
Annual Report on Form 10-K for the year ended December 31, 2007. You should carefully consider the factors discussed above in evaluating
these forward-looking statements. All information in these slides is based on the consolidated results of Capital One Financial Corporation. A
reconciliation of any non-GAAP financial measures included in this presentation can be found in the Company’s most recent Form 10-K
concerning annual financial results, available on the Company’s website at www.capitalone.com in Investor Relations under “About Capital
One.”
2
3. Capital One is:
• Top 10 bank
A leading • $87.6B in deposits
financial institution – 14th largest depository institution in the U.S.
– Full service banking in the New York
metropolitan area, Louisiana and Texas
A top diversified
• $148B in managed loans
consumer
• 5th largest credit card issuer2
lender
1) Deposits total as of Q4 2007; ranking as of Q3 2007. Ranking includes domestic deposits.
3
2) VISA, MasterCard, Amex, Discover reported domestic Outstandings
4. Capital One is a diversified bank that is now primarily funded by
deposits
Relative Deposit Funding, Q4 2007
Deposits as a Percentage of Managed Liabilities1
100%
12
13
14 16 All Other3
19 19
90%
9
34 34
38
80% 14
Unsecured Debt
6
19
23 9
20
70%
18
Securitizations
28
12 12
60% 7 11
12
20 5
6
50%
Other Deposits
9 8
40% 5
23
69
30% 57 55
55
49
28
Core Deposits2
20% 39 39
26
10%
10
0%
Bank of Citi JPM Wachovia Wells US SunTrust Regions Capital
America Chase Fargo Bancorp One
% Deposit Funded: 48% 38% 49% 64% 66% 61% 73% 78% 47%
1. Deposits as a Percent of Managed Liabilities includes all balance sheet liabilities plus off-balance sheet securitizations
4
2. Core Deposits defined as Total Deposits, less jumbo time deposits, foreign deposits, and any unclassified deposits
3. Other includes short-term borrowing and Fed funds
Source: Company Reports
5. We are a diversified bank with many different types of assets
$B
Managed Outstandings
$160 $151
$146**
$140
Banking
44
$120
$105*
$100 Global
Financial
29.3
$80
Services
$80 $71
$60 Auto
25.1
$60 Loans
$45
$40 $30
U.S.
$20
$17 52.1 Credit
$14
$20 Cards
$0
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
*For YE 2005, Banking segment was included in “Other” category, and included Hibernia auto loans that were moved to Auto segment in
Q1 2006.
5
**For YE 2006, North Fork loans were included in “Other” category
6. Institutions and markets are hit differently
U.S. 30 Day+ Delinquency Rate
Indexed to Q1 1998
Other Consumer
Mortgage-Related Commercial
250%
250% 250%
200%
200% 200%
Mortgage C&I
150%
150% 150%
Card
100%
100% 100%
Auto
CRE
50%
50% 50%
Home Equity
0%
0% 0%
1998Q1 2000Q1 2002Q1 2004Q1 2006Q1
1998Q1 2000Q1 2002Q1 2004Q1 2006Q1 1998Q1 2000Q1 2002Q1 2004Q1 2006Q1
6
Sources: FFIEC Consolidated reports of Condition and Income, Equifax
8. Capital One’s credit metrics reflect weakening in the U.S. economy
Monthly Managed Monthly Managed Delinquency
Net Charge-off Rate and Non-Performing Loan Rate
8%
8%
Bankruptcy
Filing Spike
7% National Lending
7%
Q108:
6% 5.34%
6%
5% National Lending
5% 30+ Delinquency Rate
Q108
4%
4% 4.73%
3% 3%
2% 2% Local Banking:
Non-performing loans
Q108:
Local Banking as % of loans
1% 0.31% Q108
1%
0.56%
0% 0%
Jan-00
Jan-01
Jan-02
Jan-03
Jan-04
Jan-05
Jan-06
Jan-07
Jan-08
Jan-00
Jan-01
Jan-02
Jan-03
Jan-04
Jan-05
Jan-06
Jan-07
Jan-08
8
9. Given the deteriorating outlook for the US economy, we have
increased our loan loss allowance
Allowance as % of Reported
Quarterly Highlights
30+ Delinquencies
200%
• Increased loan loss allowance by
$310M to $3.3B
US Card
165%
153%
150%
• Allowance consistent with managed
International
charge-offs of approximately $6.7B
129%
134%
over the next 12 months
100%
Auto
64%
50%
44%
0%
Q107 Q207 Q307 Q407 Q108
Allowance as
% of Reported 2.3% 2.3% 2.4% 2.9% 3.3%
Loans
9
All Guidance as of Q108 earnings call – April 2008
10. Substantial increase in revenue margin year-over-year largely offset
the adverse impact of higher credit costs
Margins Margin Drivers
12% • Year-over-year: US Card pricing and fee
changes drove substantial increase in
Revenue Margin
revenue margin
10% 10.43%
10.40%
9.20%
Risk-Adjusted Margin
8% • Quarter-over-quarter: Reduced US Card
7.45%
6.97% 7.06%
fees offset by more active balance sheet
6.78%
6.83%
management
6%
6.15%
Net Interest Margin
4%
2%
0%
Q107 Q207 Q307 Q407 Q108
10
11. We continue to drive efficiency gains
Quarterly Highlights
Efficiency Ratio
• Reduced headcount by 1,600 in Q108;
60%
5,400 since Q107
50.7%
50% 46.2%
• Announced UK and Auto Finance
restructurings
41.6%
44.2%
40%
– Approximately 1000 positions to be
38.6%
eliminated
30%
Excluding Visa one-
time impacts
2008 Expectations
20%
• Mid-40%’s or lower efficiency ratio
10%
• 2008 operating expenses at least $200M
below 2007
0%
Q107 Q207 Q307 Q407 Q108
11
All Guidance as of Q108 earnings call – April 2008
12. Revenue and balance sheet management ensure profitability
despite credit headwinds
Net Income from Continuing Operations ($Millions)
Q108 Q407 Q307 Q207 Q107
National Lending
US Card $ 491.2 $ 498.7 $ 626.8 $ 592.9 $ 538.5
Auto Finance (82.4) (112.4) (3.8) 38.0 44.4
International 33.3 54.7 47.4 18.2 19.5
SUBTOTAL 442.1 441.0 670.4 649.1 602.3
Local Banking 75.8 103.6 195.5 154.8 139.2
Other 114.6 (223.0) (49.6) (36.3) (55.4)
Total Company 632.6 $ 321.6 $ 816.4 $ 767.6 $ 686.1
$
12
13. We are taking action to strengthen resiliency and sustain the strong
financial returns of our US Card business
US Card US Card Revenue Margin and Non-Interest
Credit Risk Metrics Expenses as a % of Average Loans
7% 20%
17.31%
5.85% 16.42% 16.42%
6% Managed Net
14.67%
Charge-off Rate
4.84%
13.92%
15%
5%
3.85%
3.72% 3.56%
4%
Non-Interest Expenses as a
Revenue Margin % of Average Loans
4.28% 10%
4.04%
3.80%
3%
3.06% 2.98%
2%
5% 6.11%
5.88%
Managed 30+ 5.81% 5.76%
Delinquency Rate
1% 5.48%
0% 0%
Q107 Q207 Q307 Q407 Q108 Q107 Q207 Q307 Q407 Q108
13
14. Despite recent worsening in losses and delinquencies, other indicators
remain generally stable in our US Card portfolio
Utilization Rate
Minimum Payment and Pay-in-Full Rates
(indexed)
(indexed)
% of customers
120%
1.
1. paying in full
120% 2
2
100%
1.
100%
1.
0
0
80%
0.
0.
80%
8
8
60%
0.
% of customers
0.
60%
6
6
paying Min Pay
40%
0.
40%
0.
4
4
20%
0.
0.
20%
2
2
0
0%
0%
0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Payment Rate (Payment as a % of Outstanding)
Percent of Customers taking Cash Advances
(indexed)
(indexed)
120%
1.
1.
120% 2
2
100%
1.
1.
100% 0
0
0.
80%
0.
8
80%
8
0.
0. 60%
60% 6
6
0. 0.
40%
40%
4 4
0. 0.
20%
20%
2 2
0 0
0%
0%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Key
14
All Guidance as of Q108 earnings call – April 2007
2008 ’04-’06 Avg
2008
15. Bank integration was largely completed in the quarter
Credit Risk Metrics
2%
Managed Net
Charge-off Rate
Non Performing Loans
as a % of Loans
1%
0.56%
0.41%
0.27%
0.19%
0.19%
0.28%
0.31%
0.19% 0.19%
0.15%
0%
Q107 Q207 Q307 Q407 Q108
Deposit and Loan Portfolio ($B)
• Launched new Capital One logo
$80
$74.3 $74.3 $72.8 $73.1 $73.4
$70
• Completed brand conversion of Deposits
$60
former North Fork branches $50 $44.0 $44.2
$41.6 $41.9 $42.2
$40
Loans
• Consolidated banking operations
$30
$20
onto a single deposit platform
$10
$0
Q107 Q207 Q307 Q407 Q108
15
All Guidance as of Q108 earnings call – April 2008
16. Despite credit headwinds, we remain capital generative
Tangible Common Equity to
2008 Expectations
Tangible Managed Assets Ratio
• TCE ratio at or above high-end of 5.5%-
8%
6% target range
7%
6.03%
5.83% • Expect to continue $0.375 quarterly
6%
Target Range
dividend
5%
4%
• Share buybacks dependent on economic
outlook
3%
– 2H08 at the earliest
2%
1%
0%
Q107 Q207 Q307 Q407 Q108
16
All Guidance as of Q108 earnings call – April 2008
17. We continue to maintain ample liquidity
First Quarter 2008 Highlights
Readily Available Liquidity
$B
• Liquidity position is 5x next 12 months
35
of capital markets funding plan
$30B
$29B
30
• Moved Auto Finance to be a subsidiary
Undrawn FHLB
of National Bank
Capacity
25
• $5.7B Holding company cash:
20
Unencumbered – Covers parent obligations for over 2
Securities
years, including common stock
dividends
15
• Maintained strong, diversified funding
10
– Q1 deposit growth of $4.9B
Undrawn
Conduit
– More than $4B AAA US Card ABS YTD
5
• Highly liquid, low risk investment
0
portfolio
1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08
17
All Guidance as of Q108 earnings call – April 2008
18. We expect sound operating metrics in 2008, despite continued credit
headwinds
Commentary
2008 Outlook
Loan/Deposit Flat loan growth; double-digit Cautious on loan growth; bullish on deposit growth
deposit growth
Growth
Revenue
Low-to mid-single digits Revenue margin remains strong
Growth
Cost Efficiency ratio in the low-to mid- At least $200M Y/Y OpEx reduction vs. 2007
40%’s
Management
Credit Continued economic weakness Allowance at 3/31/08 consistent with $6.7B in charge-
Expectations offs for the next 12 months
Capital Manage to the high end or above Expect to continue $0.375 quarterly dividend; share
5.5-6.0% TCE target repurchases dependent on economic outlook; 2H08 at the
Management
earliest
18
All Guidance as of Q108 earnings call – April 2008