US Banks FX 1999 Revenues Show Euro, Y2K Impact Minor

FRONT PAGE

NEW YORK--The euro and Y2K had little effect on forex trading revenues for 1999, according to US banks’ results released over the past two weeks.

Citibank remains in the lead, with full year revenues for FX trading of $1,478 million--down 8 per cent from $1,613 million in 1998. For Q4, the bank reported revenues of $346 million--down from $373 million last year in the fourth quarter.

Chase Manhattan Bank retains second place, with forex trading revenues of $807 million--down 14 per cent from $