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The largest U.S. bank, Bank of America, has experienced a greater loss than expected in the fourth quarter because of the cost of credit, says in a statement Wednesday.

Over the last three months of 2009, the bank recorded a net loss after minority interests of 5.196 billion dollars against 2.392 billion a year earlier, or 60 cents per share, while analysts on average expected a loss of 4 , 5 billion, or 52 cents per share. "Certainly it's disappointing loss to publish the fourth quarter. However, it should not overshadow our many successes, "said Brian T. Moynihan, president of Bank of America. Firstly, we repaid the U.S. government. Secondly, we strengthened our balance sheet through securities offerings successful. Finally, all our non-credit operations had a positive impact on our results.

Net banking income (equivalent of sales) of the bank, to 25.076 billion dollars, is also revealed in below expectations of Wall Street analysts who had forecast on average 26.84 billion in free business cards .

Bank of America has suffered a decline in demand for loans and "portfolio management debt" compared to a year ago while its revenue from market activities have strongly rebounded. "We are heartened by the resurgence of the economy for 2010, through the stabilization of our cost of funds. However, economic conditions remain weak and we expect that unemployment continues to rise. This will therefore penalize consumption and growth. "

Friday, JP Morgan Chase announced a net profit of 3.278 billion dollars (2.27 billion euros), a figure four times over the fourth quarter of 2008. Net banking income (equivalent to the turnover) amounted to 23.164 billion dollars over the same period against 17.226 billion in 2008. Levels well below expectations of analysts who had forecast at 26.2 billion. Tuesday, Citigroup posted a net loss of nearly 1, 6 billion against $ 27.6 billion in 2008.

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The Committee approved the December 8 and 9 "advisory for a package of proposals to strengthen regulation of capital and liquidity with the objective of strengthening the banking sector," he said in a statement.

These measures will "respond to the lessons of the crisis in the regulation, supervision and risk management of banks," said the committee.

The proposals for capital and liquidity will strengthen the banks and create a financial banking system and healthier, "said the chairman, Nout Wellink, who is also president of the Dutch Central Bank.

It is, however, that a "consultation document" and not a final text, recalled Wednesday a spokesman of the Bank for International Settlements (BIS) in Basel, including hosting meetings.

The 27 "wise men" had already announced in early July an increase of Basel II, introduced in 2004 and requiring banks with a capital ratio weighted overall risk incurred by financial institutions.

Avoiding a new "Lehman Brothers"

To avoid the disastrous consequences of a new financial crisis including the collapse of financial institutions of systemic importance, as the bankruptcy of U.S. bank Lehman Brothers in September 2008, the Basel Committee grilled for several months on a building rules governing the banking sector.

In his new proposals, the committee wants to strengthen the quality and transparency of the core capital Tier 1 (core capital of a bank), allowing institutions to better absorb potential losses.

He also wants to improve the level of capital to protect facilities including activities on derivatives and repos (repos).

Debt ratio

Banks should also establish a ratio of debt to contain their debt, financial buffers to cope with difficult situations and a minimum level of liquidity.

The impact of these measures on the sector should be analyzed in the first half of 2010 with the aim to introduce by the end of 2012.

The committee, founded in 1974 and composed of the governors of 27 central banks worldwide, "will ensure that the implementation of new standards is consistent with the financial market stability and sustainable economic growth," assured Nout Wellink.

Central bankers also want to introduce a period of tolerance and accompanying measures "for a period sufficiently long to allow a smooth transition to new standards.

Lehman Brothers estimates have been robbed. Lawyers for the holding company representing the defunct U.S. bank filed a complaint against the British bank Barclays in order to recover billions of dollars wrongly attributed to it at the sale in secret activities of brokerage Lehman in September 2008. In a complaint filed with the U.S. Bankruptcy Court in Manhattan (New York), Lehman believes that the sale was "secretly arranged at the outset to provide a benefit that Barclays was not expected" and that the bankruptcy judge has not been informed at the time.

Lehman Barclays accuses of having been awarded some $ 7 billion of assets in excess of the transaction, plus 5 billion once the sale is concluded.

In its complaint, the U.S. bank, which had declared bankruptcy in September 15, 2008 following the subprime crisis and the refusal of the U.S. state to help, now wants to make as Barclays Lehman "all profits obtained improperly, and damages. Among its charges, including Lehman puts into question the role of several of its leaders at the time who took part in the transaction before joining Barclays Capital.

Dark period for producers of solar energy. Q-Cells, one of the world's leading manufacturers of solar cells, reported a loss of nearly 1 billion euros over the first nine months of the year, against a profit of 150 million euros over the same period in 2008. Its turnover in nine months has, meanwhile, fell sharply by 40.9% yoy to 550.3 million euros.

The group Q-Cells said the decline coupled turnover and results by falling prices of photovoltaic cells, a background of economic crisis and increased competition from Chinese manufacturers, which enjoy much lower costs and massive government aid programs.

The Conergy Group, number two German industry has recorded its share down 41% of its sales in the third quarter while its counterpart Phoenix Solar, which specializes in installing solar panels on the roofs of buildings, revised downward its forecast for growth in turnover.

The Chinese group JA Solar is one of those who profit from the current weakness of its European competitors. With a volume of record quarterly shipments, the Asian group could return to profitability in the third quarter.

To adapt to this changing market, Q-Cells, as rival Norwegian Renewable Energy, has already started to transfer Asian part of its production to reduce costs.

Listed on the Frankfurt Stock Exchange, the action Q-Cells lost 3.86% to 10.93 euros in mid-session while Phoenix Solar yielded 4.88% to 35.10 euros.Conergy was also in the red, falling 2.53% to 0.77 euros.

After the first American publications published last week, it was the turn of Europe to present their financial results for the third quarter. The Dutch Philips leads with results above analysts' expectations.

The group specializes in electronics and home appliances has announced a turnover of 5.62 billion euros, down 11% over third quarter 2008 but slightly above the consensus.It appears in net up 19% compared to sales of second quarter 2009.

Net profit reached 176 million euros, three times that of the same period in 2008 while analysts by Dow Jones Newswires had forecast about 45 million euro loss.

In the statement released Monday, Gerard Kleisterlee, president of Philips, notes the significant improvement in sales and profits in most of its activities in the previous quarter but remains cautious on the outlook in the short term absence of structural recovery on these same markets. The Philips Group employs 118,000 people in sixty countries and has made 26 billion euros in turnover in 2008.

After Philips, Electrolux is another giant appliances, which will publish its results in the day.The U.S. aluminum producer Alcoa opened the quarterly earnings season last Wednesday with results exceeding consensus expectations. This week should be decisive on the equity markets with the simultaneous publication of several large U.S. banks such as JPMorgan, Goldman Sachs and Citigroup Wednesday and Thursday.