US Bancorp Conference Call Notes (USB)

US Bancorp USB says "buybacks won't be 'meaningful' 'til Basel III guide... sees repurchase requests to remain slightly elevated... expects net charge-offs to continue decline in 2Q... net interest margin will decline... sees per quarter mtge repurchase expense $50m-$70m... sees repurchase requests to fall after next few quarters... customers not using available credit... loan growth `measured' and `slow'."