PNC Bank 2010 Annual Report Download - page 101
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Please find page 101 of the 2010 PNC Bank annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.liquidity, and funding. These legal and regulatory
developments could include:
– Changes resulting from legislative and regulatory
responses to the current economic and financial
industry environment.
– Other legislative and regulatory reforms, including
broad-based restructuring of financial industry
regulation (such as those under the Dodd-Frank Act)
as well as changes to laws and regulations involving
tax, pension, bankruptcy, consumer protection, and
other aspects of the financial institution industry.
– Unfavorable resolution of legal proceedings or other
claims and regulatory and other governmental
investigations or other inquiries. In addition to
matters relating to PNC’s business and activities,
such matters may also include proceedings, claims,
investigations, or inquiries relating to pre-acquisition
business and activities of acquired companies, such
as National City.
– The results of the regulatory examination and
supervision process, including our failure to satisfy
the requirements of agreements with governmental
agencies.
– Changes in accounting policies and principles.
– Changes resulting from legislative and regulatory
initiatives relating to climate change that have or may
have a negative impact on our customers’ demand for
or use of our products and services in general and
their creditworthiness in particular.
– Changes to regulations governing bank capital,
including as a result of the Dodd-Frank Act and of
the Basel III initiatives.
• Our business and operating results are affected by our
ability to identify and effectively manage risks inherent
in our businesses, including, where appropriate, through
the effective use of third-party insurance, derivatives, and
capital management techniques, and by our ability to
meet evolving regulatory capital standards.
• The adequacy of our intellectual property protection, and
the extent of any costs associated with obtaining rights in
intellectual property claimed by others, can impact our
business and operating results.
• Our ability to anticipate and respond to technological
changes can have an impact on our ability to respond to
customer needs and to meet competitive demands.
• Our ability to implement our business initiatives and
strategies could affect our financial performance over the
next several years.
• Competition can have an impact on customer acquisition,
growth and retention, as well as on our credit spreads and
product pricing, which can affect market share, deposits
and revenues.
• Our business and operating results can also be affected
by widespread disasters, terrorist activities or
international hostilities, either as a result of the impact on
the economy and capital and other financial markets
generally or on us or on our customers, suppliers or other
counterparties specifically.
• Also, risks and uncertainties that could affect the results
anticipated in forward-looking statements or from
historical performance relating to our equity interest in
BlackRock, Inc. are discussed in more detail in
BlackRock’s filings with the SEC, including in the Risk
Factors sections of BlackRock’s reports. BlackRock’s SEC
filings are accessible on the SEC’s website and on or
through BlackRock’s website at www.blackrock.com. This
material is referenced for informational purposes only and
should not be deemed to constitute a part of this Report.
We grow our business in part by acquiring from time to time
other financial services companies, financial services assets
and related deposits. Acquisitions present us with risks in
addition to those presented by the nature of the business
acquired. These include risks and uncertainties related both to
the acquisition transactions themselves and to the integration
of the acquired businesses into PNC after closing.
Acquisitions may be substantially more expensive to complete
(including unanticipated costs incurred in connection with the
integration of the acquired company) and the anticipated
benefits (including anticipated cost savings and strategic
gains) may be significantly harder or take longer to achieve
than expected. Acquisitions may involve our entry into new
businesses or new geographic or other markets, and these
situations also present risks resulting from our inexperience in
those new areas.
As a regulated financial institution, our pursuit of attractive
acquisition opportunities could be negatively impacted due to
regulatory delays or other regulatory issues. In addition,
regulatory and/or legal issues relating to the pre-acquisition
operations of an acquired business may cause reputational
harm to PNC following the acquisition and integration of the
acquired business into ours and may result in additional future
costs or regulatory limitations arising as a result of those
issues.
ITEM
7A –
QUANTITATIVE AND QUALITATIVE
DISCLOSURES ABOUT MARKET RISK
This information is set forth in the Risk Management section
of Item 7 of this Report.
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