US Investment Banks Report Strong FX Results Despite Market Turmoil

NON-BANKS

NEW YORK--Although most US investment banks are reporting poor overall earnings for the third quarter, most sources say that FX earnings remained strong, despite problems in other trading divisions.

Although investment banks are not required to break out FX results from other trading income, analysts and market participants say the extreme volatility in the currency markets over the last three months provided ample profit-making opportunities for these institutions, as their corporate and in