But, like its competitors, Royal Bank increased its provisions for potential bad debts, reflecting exposure to companies including WorldCom.
Barclays Bank said it increased its provisions for bad debts, reflecting concern among banks about loans to troubled companies, including the Enron Corporation in the United States and the phone equipment maker Marconi in Britain.
The idea is that low long-term interest rates for the United States, the UK, and basically every country with its own currency that doesn't have large foreign-currency debts reflect the desperate search of investors for something safe to buy.
Moody's assigned a "stable" outlook to the debt, reflecting an improved economy, overseas sales and revenue from other businesses like Kodak's commercial and components units.
It had high debt, reflecting the $5 billion cost of building its Shoreham nuclear plant, which, in the face of safety concerns, never opened.
Standard & Poor's, a rating agency, downgraded Fannie's preferred stock and subordinated debt, reflecting the risk that it might be taken into receivership.
He adds that individual investors should keep only about one-third of their bond stake in Treasuries and government debt, reflecting the market's mix based on private investors such as pension and mutual funds.
But on Thursday, a statement by the People's Bank of China dismissed reports that the State Administration of Foreign Exchange, which is responsible for assets of more than $600 billion, was evaluating its investment in euro zone debt, reflecting concerns that some European nations might eventually default on their debts.
Germany's biggest bank made further write-downs to its exposure to Greek debt, reflecting market value, which cost it €250m ($333m).Dexia, a big Franco-Belgian bank, was set to be broken up and its toxic assets hived off, as the Belgian and French governments rushed to assure Dexia's depositors and creditors that their money would be safeguarded.
National debt reflects debt held by the public.
So the surge in debt reflects a surge in money Americans owe to other Americans.
