HOUSE_OVERSIGHT_014317.jpg
1.34 MB
Extraction Summary
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Organizations
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Locations
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Events
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Document Information
Type:
Financial research report / conference presentation slide
File Size:
1.34 MB
Summary
This document is a page from a Bank of America Merrill Lynch report for its '2016 Future of Financials Conference' held on November 17, 2016. It summarizes an optimistic outlook for the banking sector following the recent US presidential election, presenting poll results on the expected impacts of a GOP sweep on bank earnings and investor sentiment towards multifamily lending in 2017. The document itself contains no information related to Jeffrey Epstein, his associates, or related activities.
People (2)
| Name | Role | Context |
|---|---|---|
| bank management teams | Financial Industry Professionals |
Mentioned as being generally optimistic about the economic outlook for 2017 following the US presidential election.
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| bank investors | Investors |
Mentioned in the context of their interest in the landscape of multifamily lending.
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Organizations (3)
| Name | Type | Context |
|---|---|---|
| Bank of America Merrill Lynch |
Author and source of the research report, and host of the '2016 Future of Financials Conference'.
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| GOP |
Republican Party. The document discusses the impact of the 'GOP sweep' in the 2016 election on bank earnings.
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| HOUSE_OVERSIGHT |
Appears as part of a document identifier or Bates number ('HOUSE_OVERSIGHT_014317') in the footer, possibly indicatin...
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Timeline (2 events)
2016-11-17
Bank of America Merrill Lynch's '2016 Future of Financials Conference'.
Unknown
November 2016
A historic US presidential election that resulted in a 'GOP sweep' and helped boost bank stocks by 12%.
US
Locations (1)
| Location | Context |
|---|---|
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The document references the 'historic US presidential election' of 2016.
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Full Extracted Text
Complete text extracted from the document (2,104 characters)
Banks Takeaways
With our conference coming a week following a historic US presidential election that helped boost bank stocks by 12%, bank management teams were generally optimistic with regards to the economic outlook heading into 2017. Greater fiscal stimulus that is expected to spur economic growth coupled with potential regulatory relief has helped improve the overall sentiment in the sector. When asked what the biggest impact of the GOP sweep would likely be to bank earnings, 35% noted tax cuts and infrastructure spurring growth as the biggest impact.
With our conference coming a week following a historic US presidential election that helped boost bank stocks by 12%, bank management teams were generally optimistic with regards to the economic outlook heading into 2017. Greater fiscal stimulus that is expected to spur economic growth coupled with potential regulatory relief has helped improve the overall sentiment in the sector. When asked what the biggest impact of the GOP sweep would likely be to bank earnings, 35% noted tax cuts and infrastructure spurring growth as the biggest impact.
Chart 3: What do you think is the biggest impact of the GOP sweep to bank earnings?
40%
35%
35%
31%
30%
24%
25%
20%
15%
9%
10%
5%
0%
Interest rates rising faster across the curve due to stronger dollar
Tax cuts and infrastructure spending spurring growth, therefore better loan demand
Lower regulatory burden, driving higher ROEs as excess capital is returned back to shareholders or reinvested for growth
No real impact/too early to tell
40%
35%
35%
31%
30%
24%
25%
20%
15%
9%
10%
5%
0%
Interest rates rising faster across the curve due to stronger dollar
Tax cuts and infrastructure spending spurring growth, therefore better loan demand
Lower regulatory burden, driving higher ROEs as excess capital is returned back to shareholders or reinvested for growth
No real impact/too early to tell
Source: BofA Merrill Lynch Global Research
An area that has attracted particular attention among bank investors is around the current landscape of multifamily lending. We polled the audience around their outlook for multifamily lending in 2017 and found that 49% of those polled said there was some concern, but only in certain regions and at certain rental price points. Meanwhile, 29% noted softening fundamentals that should lead to slower financing activity and worsening credit metrics (see Chart 4).
Chart 4: How do you view fundamentals for multifamily lending in 2017?
60%
49%
50%
40%
30%
29%
20%
11%
10%
10%
2%
0%
Softening fundamentals should lead to slower financing activity next year
Softening fundamentals should lead to worsening credit metrics
Softening fundamentals should lead to slower financing activity and worsening credit metrics
Some concern, but only in certain regions and at certain rental price points
No concern
60%
49%
50%
40%
30%
29%
20%
11%
10%
10%
2%
0%
Softening fundamentals should lead to slower financing activity next year
Softening fundamentals should lead to worsening credit metrics
Softening fundamentals should lead to slower financing activity and worsening credit metrics
Some concern, but only in certain regions and at certain rental price points
No concern
Source: BofA Merrill Lynch Global Research
Bank of America
Merrill Lynch
Merrill Lynch
2016 Future of Financials Conference | 17 November 2016 3
HOUSE_OVERSIGHT_014317
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