Bank Executive Business Outlook Survey
On November 6, 2018, Americans went to the polls to vote on which party would control the House of Representatives and the U.S. Senate. But prior to that, in this quarter’s Bank Executive Business Outlook Survey, we asked bankers how worried they were about a Democratic takeover of the House of Representatives. The answer, by and large, was ‘very.’ In fact, a sizable majority of respondents (73%) saw
a potential Democratic takeover of the U.S. House of Representatives as being a serious concern for their bank—41% rated their level of concern a 5 out of 5 (with 5 being the highest level of concern) and another 32% rated it a 4 out of 5.
Highlights from other parts of the survey include:
- A majority of respondents (54%) believe that all-mobile banks will eventually hold more than a quarter of the banking business for Millennial and post-Millennial customers.
- Despite recent market turbulence, almost 8 in 10 respondents (78%) see Wall Street’s bull market continuing until at least the second half of 2019.
- A majority of respondents (65%) have some level of confidence in the U.S. regulatory system’s ability to manage a future crisis on par with 2008’s financial crisis. Larger community banks (banks with $1 to $10 billion in assets) expressed a higher level of confidence than smaller community banks (banks with less than $1 billion in assets).
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