PNC Bank 2012 Annual Report Download - page 135

C AUTIONARY S TATEMENT R EGARDING
F ORWARD -L OOKING I NFORMATION
We make statements in this Report, and we may from time to
time make other statements, regarding our outlook for
earnings, revenues, expenses, capital levels and ratios,
liquidity levels, asset levels, asset quality, financial position,
and other matters regarding or affecting PNC and its future
business and operations that are forward-looking statements
within the meaning of the Private Securities Litigation Reform
Act. Forward-looking statements are typically identified by
words such as “believe,” “plan,” “expect,” “anticipate,” “see,”
“look,” “intend,” “outlook,” “project,” “forecast,” “estimate,”
“goal,” “will,” “should” and other similar words and
expressions. Forward-looking statements are subject to
numerous assumptions, risks and uncertainties, which change
over time.
Forward-looking statements speak only as of the date made.
We do not assume any duty and do not undertake to update
forward-looking statements. Actual results or future events
could differ, possibly materially, from those anticipated in
forward-looking statements, as well as from historical
performance.
Our forward-looking statements are subject to the following
principal risks and uncertainties.
• Our businesses, financial results and balance sheet values
are affected by business and economic conditions,
including the following:
– Changes in interest rates and valuations in debt,
equity and other financial markets.
– Disruptions in the liquidity and other functioning of
U.S. and global financial markets.
– The impact on financial markets and the economy of
any changes in the credit ratings of U.S. Treasury
obligations and other U.S. government-backed debt,
as well as issues surrounding the level of U.S. and
European government debt and concerns regarding
the creditworthiness of certain sovereign
governments, supranationals and financial
institutions in Europe.
– Actions by Federal Reserve, U.S. Treasury and other
government agencies, including those that impact
money supply and market interest rates.
– Changes in customers’, suppliers’ and other
counterparties’ performance and creditworthiness.
– Slowing or failure of the current moderate economic
expansion.
– Continued effects of aftermath of recessionary
conditions and uneven spread of positive impacts of
recovery on the economy and our counterparties,
including adverse impacts on levels of
unemployment, loan utilization rates, delinquencies,
defaults and counterparty ability to meet credit and
other obligations.
– Changes in customer preferences and behavior,
whether due to changing business and economic
conditions, legislative and regulatory initiatives, or
other factors.
• Our forward-looking financial statements are subject to
the risk that economic and financial market conditions
will be substantially different than we are currently
expecting. These statements are based on our current view
that the moderate economic expansion will persist and
interest rates will remain very low in 2013, despite drags
from Federal fiscal restraint and a European recession.
These forward-looking statements also do not, unless
otherwise indicated, take into account the impact of
potential legal and regulatory contingencies.
• PNC’s regulatory capital ratios in the future will depend
on, among other things, the company’s financial
performance, the scope and terms of final capital
regulations then in effect (particularly those implementing
the Basel Capital Accords), and management actions
affecting the composition of PNC’s balance sheet. In
addition, PNC’s ability to determine, evaluate and
forecast regulatory capital ratios, and to take actions (such
as capital distributions) based on actual or forecasted
capital ratios, will be dependent on the ongoing
development, validation and regulatory approval of
related models.
• Legal and regulatory developments could have an impact
on our ability to operate our businesses, financial
condition, results of operations, competitive position,
reputation, or pursuit of attractive acquisition
opportunities. Reputational impacts could affect matters
such as business generation and retention, liquidity,
funding, and ability to attract and retain management.
These developments could include:
– Changes resulting from legislative and regulatory
reforms, including major reform of the regulatory
oversight structure of the financial services industry
and changes to laws and regulations involving tax,
pension, bankruptcy, consumer protection, and other
industry aspects, and changes in accounting policies
and principles. We will be impacted by extensive
reforms provided for in the Dodd-Frank Wall Street
Reform and Consumer Protection Act (the “Dodd-
Frank Act”) and otherwise growing out of the recent
financial crisis, the precise nature, extent and timing
of which, and their impact on us, remains uncertain.
– Changes to regulations governing bank capital and
liquidity standards, including due to the Dodd-Frank
Act and to Basel-related initiatives.
– 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 include proceedings, claims,
investigations, or inquiries relating to pre-acquisition
business and activities of acquired companies, such
as National City. These matters may result in
116 The PNC Financial Services Group, Inc. – Form 10-K