Healthy Fourth Quarter Rounds Out Strong Year For U.S. Banks' FX Revenue
BANKS
U.S. banks are reporting healthy foreign exchange trading revenues for the fourth quarter, rounding out a strong year for many participants. But fourth-quarter results are proving a far cry from those reported for the third quarter, when what some are terming a "once in a generation" currency crisis helped most banks reap profits of nearly twice the norm.
Many of the major New York banks reporting last week--among them Chase Manhattan, Chemical Bank and Citibank--reported strong FX figures for
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