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Financial Business Review: BofA DISAGREES With Fannie Mae, Morgan Stanley’s MSSB OFFER

Mark Lawson

Chief Financial Officer Bruce Thompson of Bank of America Corporation (NYSE:BAC) says that his company is still at odds with Fannie Mae, as he addressed the Barclays Financial Services Conference. Thompson contends that BofA’s exposure to mortgages is mostly quantified, but a majority of the Conference participants point to government-sponsored enterprise repurchase risk as their main obstacle to buying the stock.

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Ongoing economic problems in the British and European regions, are prompting Moody’s to stay negative on banks in the United Kingdom, as the agency comments that such companies as Lloyds Banking Group plc (NYSE:LYG), The Royal Bank of Scotland Group plc (NYSE:RBS), and Barclays PLC (NYSE:BCS) might be impacted by high regulatory costs arising from the various scandals and write-downs on their exposure to foreign real estate.

Perella Weinberg has evaluated Morgan Stanley Smith Barney at under $15 billion, which marks a win for Morgan Stanley (NYSE:MS), according to The New York Post. A valuation of $15.5 billion would have split the difference between how Citigroup and Morgan Stanley had separately appraised the venture. The exact figure is being widely bounced around, but one source believes that an appropriate guesstimate would be between $10 billion and 15 billion.

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