美银CEO Moynihan称监管罚款问题已解决，成本纳入预算
BofA Takes US Regulatory Fines Seriously, CEO Moynihan Says
涉及美股头部银行重大合规事件的成本定性，直接影响投资者对财报预期与潜在尾部风险的判断，建议关注相关财务披露。
DOWN WITH JONATHAN FERRO. JONATHAN: WELCOME TO THE PROGRAM. IT IS GOOD TO SEE YOU, AS ALWAYS. WE HAVE TO START WITH THAT FINE FROM -- FINE FROM REGULATORY. THE LANGUAGE FROM TREASURY IS QUITE DAMMING. WHAT IS YOUR INTERPRETATION OF WHAT WENT WRONG HERE? BRIAN: AT THE END OF THE DAY, WE HAD AN EXAMINATION A FEW YEARS AGO. WE GOT A CEASE AND DESIST ORDER. WE HAVE TO DO THAT WORK. THERE WAS A DEBATE ABOUT WHAT EXACTLY WE HAD TO DO.
乔纳森·费罗下台。乔纳森：欢迎参加本次节目。一如既往，见到你很高兴。我们必须先从罚款谈起——来自监管机构的罚款。财政部的措辞相当严厉。你对这里发生的问题有何解读？布莱恩：归根结底，几年前我们接受过一项审查。我们收到了停止令。我们必须完成那项工作。当时对于究竟需要做什么存在争议。
THAT IS RESOLVED. THAT IS BEHIND US. WE HAVE BEEN EXPENDING THE MONEY IN THE RUN RATE ALREADY TO DO THE REMEDIATION BECAUSE A FEW MONTHS AGO, WE STARTED PICKING UP THE COST STRUCTURE AND PUTTING IT IN, SO WE WILL GET IT DONE. WE TAKE IT SERIOUSLY, AND AS TIME GOES BY, PEOPLE WILL UNDERSTAND IT BETTER. JONATHAN: I IMAGINE YOU WANT TO DRAW A LINE UNDER THE WHOLE ISSUE, BUT TO EXTEND THE TOPIC A LITTLE FURTHER, I IMAGINE YOU ALSO DO NOT WANT TO BE DRAWN INTO HOW MUCH OF THIS THERE IS TO BE COMPLETED.
该问题已解决。这已成为过去式。我们已经按照运行率支出了资金来进行整改，因为几个月前，我们开始调整成本结构并将其纳入其中，所以我们将完成任务。我们对此非常重视，随着时间的推移，人们会更好地理解这一点。乔纳森：我想你在整个问题上划清界限，但稍微延伸一下话题，我想你也不愿被卷入还有多少工作需要完成的问题中。
THIS AFTERNOON GIVEN WHERE THE STOCK IS, THERE NEEDS TO BE SOME CONFIDENCE FOR INVESTORS THAT THE COSTS ASSOCIATED WITH REMEDYING THIS ARE IN THE BASELINE AND THERE WILL NOT BE ANY MORE SURPRISES IN THE FUTURE. HOW CONFIDENT CAN INVESTORS BE THAT'S THE CASE? BRIAN: FOR THE OPERATIONAL COST TO DO THE WORK, WE HAVE HAD A LOT OF EXPENSE AND IT IS IN OUR BASELINE. IT DOES NOT OF ADDITIONAL EXPENSE THAT WE HAVE BEEN RUNNING THROUGH.
鉴于下午的股价，投资者需要确信与整改相关的成本已包含在基准线内，未来不会再有任何意外。投资者能在多大程度上确信这一点？布莱恩：就完成工作的运营成本而言，我们已经发生了大量费用，并且这些费用已计入我们的基准线。它并不构成我们正在运行的额外支出。
WE HAVE BEEN COMPLETING A LOT OF TASKS OVER THE LAST SEVERAL MONTHS, AND WE WILL CONTINUE TO FINISH IT UP. IT CAME UP A LOT ABOUT HOW THRESHOLDS ARE SET. THERE'S A LOT OF TECHNICAL DISCUSSION, BUT AT THE END OF THE DAY, WE UNDERSTAND WHAT WE NEED TO DO, WE ARE DOING IT, AND WE WILL DELIVER. JONATHAN: WHAT ARE DISCUSSIONS LIKE WITH THE BOARD AROUND ACCOUNTABILITY, AND WOULD YOU BE OPEN TO ALIGNING REMUNERATION WITH SOME OF THESE DIFFICULTIES?
在过去几个月里，我们完成了许多任务，并将继续完成剩余工作。关于阈值如何设定的讨论很多。有很多技术性的讨论，但归根结底，我们知道需要做什么，正在做，并将交付成果。乔纳森：董事会围绕问责制的讨论情况如何？你是否愿意将薪酬与某些困难挂钩？
BRIAN: WE HAVE ACCOUNTABILITY FOR EVERYTHING WE DO IN THE COMPANY, INCLUDING A FINE. WE'VE GONE THROUGH IT BEFORE. IN 2004, THERE WAS ACCOUNTABILITY FOR THE
布莱恩：我们对公司在所有事务上的行为负责，包括罚款。我们以前经历过这种情况。2004年，存在对……的问责制
更进一步：量化金融体系
看懂新闻只是起点——沿量化金融路径，把它变成能交付的工程能力