SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) October 17, 2001
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FLEETBOSTON FINANCIAL CORPORATION
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(Exact name of registrant as specified in its charter)
RHODE ISLAND
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(State or other jurisdiction of incorporation)
1-6366 05-0341324
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(Commission File Number) (IRS Employer Identification No.)
100 Federal Street, Boston, MA 02110
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 617-434-2200
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(Former name or former address, if changed since last report)
Item 5. OTHER EVENTS.
Earlier today, FleetBoston's Chief Financial Officer, Eugene M.
McQuade, reviewed third quarter results of $766 million or $.70
per diluted share. Mr. McQuade discussed the impact of the
slowing economy and lower business volumes on FleetBoston's
operations. In light of these conditions, he characterized
FleetBoston's operating earnings coming out of the third
quarter to be in the low to mid $.60 per diluted share range
and expected that the fourth quarter of this year would be no
higher than that. He further stated that the current outlook
for 2002 performance has been revised to a range of $3.25-$3.35
per diluted share, which is in the lower range of current
analyst expectations. Mr. McQuade reiterated the company's
focus on generating internal growth and described a number of
customer initiatives underway.
A replay of Mr. McQuade's conference call is available until
October 19, 2001 at 6:00 P.M. (Eastern Daylight Time).
Domestic callers can access the playback by calling
1-888-566-0055. International callers should call
402-998-1142.
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This report contains forward-lookng statements that involve
risks and uncertainties that could cause actual results to
differ materially from estimates. These risks and
uncertainties include, among other things, (1) changes in
general political and economic conditions, either domestically
or internationally, including the economic effects of the
September 11, 2001 terrorist attacks against the United States
and the response of the United States to those attacks, the
continuing weakness in the Latin American economies,
particularly Argentina, and a further deterioration in credit
quality, including the resultant effect on the level of the
Corporation's nonperforming assets and chargeoffs; (2)
interest rate and currency fluctuations, equity and bond
market fluctuations and perceptions, including continued
weakness in the global capital markets and the impact of such
weakness on the Corporation's Principal Investing and other
capital markets businesses; (3) changes in the competitive
environment for financial services organizations and the
Corporation's ability to manage those changes; (4) legislative
or regulatory developments, including changes in laws
concerning taxes, banking, securities, insurance and other
aspects of the financial services industry; (5) technological
changes, including the impact of the Internet on the
Corporation's businesses; (6) the ability of the Corporation
to fully realize expected cost savings and realize those
savings within the expected timeframes; and (7) the level of
costs related to the integration of acquired businesses. For
further information, please refer to the Corporation's
previous filings with the SEC.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
FLEETBOSTON FINANCIAL CORPORATION
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Registrant
By: /s/ Eugene M. McQuade
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Eugene M. McQuade
Vice Chairman and
Chief Financial Officer
Dated: October 17, 2001