Canadian Banks' FX Trading Revenues Falter In Fourth Quarter After Record 1992 Gains

BANKS

Foreign exchange trading revenues of the largest Canadian banks have come in slightly lower in the fourth quarter compared with year-earlier levels and mostly flat against third-quarter earnings. However, after the October 31 fiscal year-end results are tallied, few express concern with performance, since last year's results reflected record gains (FX Week, December 7).

"It wasn't a bad year for Canadian banks," says David Marshall, chief economist and managing director at The North American