U.S. Banks Report Mixed FX Trading Revenues Citi -12 PC, Chase Flat, BNY, Chemical Gain
BANKS
Foreign exchange trading revenues were mixed in the latest quarter, U.S. banks report. Despite expectations that gains would likely pale in comparison with those reported during the same quarter a year ago when the Gulf war lifted volatility (FX Week, April 3), about as many banks outperformed last years' result as didn't.
However, some of the biggest players, Citibank, Bank of America and Morgan Guaranty, all posted more modest results versus first quarter 1991. In addition, Citi and Bank of
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