trending Market Intelligence /marketintelligence/en/news-insights/trending/RrvHradnt0KUyuVRqHKkQw2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Exec: Comerica sees $35M net interest income hit from December Fed rate cut

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Exec: Comerica sees $35M net interest income hit from December Fed rate cut

As the Federal Reserve continues to mull cutting interest rates, Dallas-based Comerica Inc. has been pricing in those possible cuts to deposit and loan portfolios, executives said during the bank's third-quarter earnings call.

Interim CFO James Herzog said lower rates are expected to have a $35 million impact on the bank's net interest income, assuming the Fed cuts rates again in December.

President and CEO Curtis Farmer added that the low rate environment could be "prolonged."

"I do remain very positive on the U.S. economy overall on what we're hearing both from consumers and businesses, even though there is some caution out there," Farmer said. "But having said that, what we said previously and now reinforced is that we do not anticipate any change to our strategy."

Farmer also said that the bank has "reached some inflection point" on its deposit costs and has been cutting costs in certificates of deposits accounts, as the competition for deposits continues to be high. Farmer said the bank released guidance that its deposit costs will likely fall in the fourth quarter.

Separately, as the current expected credit loss accounting standard goes into effect for the bank in early 2020, the bank expects its reserves will be "plus or minus 5%," Herzog said, which will have little effect on its capital ratios.