1399315--3/1/2010--MARSHALL_&_ILSLEY

related topics

{financial, litigation, operation}

{regulation, change, law}

{tax, income, asset}

{capital, credit, financial}

{condition, economic, financial}

{loss, insurance, financial}

{competitive, industry, competition}

{stock, price, share}

{acquisition, growth, future}

{loan, real, estate}

{regulation, government, change}

{system, service, information}

{personnel, key, retain}

{product, liability, claim}

{operation, natural, condition}

{stock, price, operating}

The Corporation s earnings are significantly affected by general business and economic conditions, including credit risk and interest rate risk. The Corporation s real estate loans expose the Corporation to increased credit risks. Various factors may cause the Corporation s allowance for loan and lease losses to increase. Federal and state agency regulation and enforcement actions could limit the Corporation s activities, increase the Corporation s cost structures or have other negative effects on the Corporation. A failure by the Corporation to maintain required levels of capital could have a material adverse effect on the Corporation. There can be no assurance that legislation enacted to help stabilize the U.S. financial system will be effective in doing so. The failure of other financial institutions could adversely affect the Corporation. Current levels of market volatility are unprecedented. The Corporation s stock price can be volatile. Changes in the Corporation s credit ratings could adversely affect the Corporation s liquidity and financial condition. Sales or other dilution of the Corporation s equity may adversely affect the market price of the Corporation s common stock. Terrorism, acts of war, international conflicts and natural disasters could negatively affect the Corporation s business and financial condition. The Corporation s earnings also are significantly affected by the fiscal and monetary policies of the federal government and its agencies, which could affect repayment of loans and thereby materially adversely affect the Corporation. The banking and financial services industry is highly competitive, which could adversely affect the Corporation s financial condition and results of operations. The Corporation is subject to examinations and challenges by tax authorities, which, if not resolved in the Corporation s favor, could adversely affect the Corporation s financial condition and results of operations and cash flows. Consumers may decide not to use banks to complete their financial transactions, which could result in a loss of income to the Corporation. Maintaining or increasing the Corporation s market share depends on market acceptance and regulatory approval of new products and services and other factors, and the Corporation s failure to achieve such acceptance and approval could harm its market share. The Corporation relies on dividends from its subsidiaries for most of its revenue, and the banking subsidiaries hold a significant portion of their assets indirectly. The Corporation depends on the accuracy and completeness of information about customers and counterparties, and inaccurate or incomplete information could negatively impact the Corporation s financial condition and results of operations. An interruption or breach in security of the Corporation s or the Corporation s third party service providers communications and information technologies could have a material adverse effect on the Corporation s business. The Corporation s accounting policies and methods are the basis of how the Corporation reports its financial condition and results of operations, and they may require management to make estimates about matters that are inherently uncertain. Changes in accounting standards could adversely affect the Corporation s reported financial results. The Corporation has an acquisition program, which involves risks related to integration of acquired companies or businesses and the potential for the dilution of the value of the Corporation s stock. The Corporation is dependent on senior management, and the loss of the services of any of the Corporation s senior executive officers could cause the Corporation s business to suffer. The Corporation may be a defendant in a variety of litigation and other actions, which may have a material adverse effect on its business, operating results and financial condition. If the Corporation s share distribution and transactions related to the Separation do not qualify as tax-free distributions or reorganizations under the Internal Revenue Code, then the Corporation and the Corporation s shareholders may be responsible for payment of significant U.S. federal income taxes.

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1399315--3/1/2010--MARSHALL_&_ILSLEY_CORP