2nd Quarter FX Gains Fall At U.S. Banks But Most Show Jump Over 1st Quarter
BANKS
The second quarter was not as big a disaster as the first quarter of this year for most U.S. banks, but foreign exchange earnings still show a large fall over the results for the same period last year, as market observers had expected (FX Week, July 11).
Citibank regained its position as market leader, boosting second-quarter foreign exchange earnings to $140 million, $74 million up on its record low for the first three months of this year but well down on the $352 million in gains it reported in
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