Fitch scrutinizes muni bonds and banks' revenue disclosures

12/3/2012 | Financial Times (tiered subscription model) · Bloomberg

U.S. municipal bonds, a big draw for investors, may be due for a downgrade soon by Fitch Ratings, which notes that local governments remain under stress. Meanwhile, the rating agency is calling on Wall Street banks to provide investors with more data about their trading revenue. "U.S. banks' public disclosure of capital markets revenue is insufficient to allow investors and counterparties to make a proper assessment of the impact upcoming regulatory changes will have on firms' future profitability, capital adequacy and competitive position," Joseph Scott and Bill Warlick, both of Fitch, wrote in a report.

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Financial Times (tiered subscription model) · Bloomberg

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