U.S. Banks Post Strong Quarterly FX Earnings, But Few Surpass Q2 Gains
BANKS
U.S. banks showed strength across-the-board in third- quarter foreign exchange trading revenues released last week. However, while earnings generally surpassed those for the comparable period a year ago, they did not outshine second-quarter earnings in most cases (FXW, October 16).
There were no great surprises as far as which banks were the top-performers, with Citibank once again at the top of the list with $250 million in FX revenues. However, it was the first time in a year that Chemical
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