US Banks Foreign Exchange Trading Revenues Static For Third Quarter

BANKS

WASHINGTON--US commercial banks' FX trading revenues were unchanged in the third quarter of 1999, against the backdrop of record overall trading revenues over the past four quarters, according to US administrators.

The Office for the Comptroller of the Currency's (OCC's) quarterly report said that US banks' foreign exchange revenues fell minimally to $1.07 billion, from $1.08 billion in the second quarter.

Trading activity during the quarter was dominated by interest rate derivatives. Even so