17
Cautionary Statement Regarding Forward-Looking
Information
(continued)
Appendix
Legal and regulatory developments could have an impact on our ability to operate our businesses or
our financial condition or results of operations or
our competitive position or
reputation. Reputational impacts, in turn, could affect matters such as business generation and retention, our ability to
attract and retain management, liquidity, and funding. These legal and regulatory developments
could include:
o
Changes resulting from legislative and regulatory responses to the current economic and financial
industry environment, including current and
future conditions or restrictions imposed
as a result of our participation in the TARP Capital Purchase Program;
o
Other legislative and regulatory reforms, including
broad-based restructuring of financial industry regulation as well as changes to laws and
regulations involving tax, pension, bankruptcy, consumer protection, and other aspects of the
financial institution industry;
o
Increased litigation risk from recent regulatory and other governmental developments;
o
Unfavorable resolution of legal proceedings or other claims and regulatory and other governmental
inquiries;
o
The results of the regulatory examination and supervision process, including our failure to
satisfy the requirements of agreements with
governmental agencies;
o
Changes in accounting policies and principles; and
o
Changes to regulations governing bank capital, including as a result of the so-called
Basel 3 initiatives.
If we do not redeem the Series N Preferred stock we issued to the US Department of the Treasury
such securities may limit our ability to return
capital to our shareholders and are
dilutive to our common shares. If we are unable previously to redeem the shares, the dividend rate increases
substantially after five years.
Our business and operating results are affected by our ability to identify and effectively manage
risks inherent in our businesses, including, where
appropriate, through the effective
use of third-party insurance, derivatives, and capital management techniques, and by our ability to meet evolving
regulatory capital standards.
The adequacy of our intellectual property protection, and the extent of any costs associated with
obtaining rights in intellectual property claimed by
others, can impact our business and
operating results.
Our ability to anticipate and respond to technological changes can have an impact on our ability to
respond to customer needs and to meet
competitive demands.
Our ability to implement our business initiatives and strategies could affect our financial
performance over the next several years.
Competition can have an impact on customer acquisition, growth and retention, as well as on our
credit spreads and product pricing, which can affect
market share, deposits and
revenues.
Our business and operating results can also be affected by widespread natural disasters, terrorist
activities or international hostilities, either as a
result of the impact on the economy
and capital and other financial markets generally or on us or on our customers, suppliers or other counterparties
specifically.
Also, risks and uncertainties that could affect the results anticipated in forward-looking
statements or from historical performance relating to our
equity interest in BlackRock,
Inc. are discussed in more detail in BlackRocks filings with the SEC, including in the Risk Factors sections of BlackRocks
reports. BlackRocks SEC filings are accessible on the SECs website and on or through
BlackRocks website at www.blackrock.com. This material is
referenced for
informational purposes only and should not be deemed to constitute a part of this document.
In addition, our acquisition of National City Corporation (National City) on December
31, 2008 presents us with a number of risks and uncertainties related
both to the
acquisition itself and to the integration of the acquired businesses into PNC. These risks and uncertainties include the following:
The anticipated benefits of the transaction, including anticipated cost savings and strategic
gains, may be significantly harder or take longer to
achieve than expected or may not be
achieved in their entirety as a result of unexpected factors or events.
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