FOR IMMEDIATE RELEASE
March 23, 2017
Contact: William Grassano
OCC Reports Fourth Quarter 2016 Bank Trading Revenue Increased to $6 Billion
WASHINGTON — Trading revenue of U.S. commercial banks and savings associations increased to $6 billion in the fourth quarter of 2016, $1.7 billion higher than the fourth quarter a year earlier, according to a report released today by the Office of the Comptroller of the Currency (OCC).
Revenue grew 40 percent in the fourth quarter of 2016 from the same quarter a year earlier, according to data presented in the OCC’s Quarterly Report on Bank Trading and Derivatives Activities. The OCC also reported that trading revenue in the fourth quarter fell slightly from the $6.4 billion reported in the third quarter 2016.
The largest driver of the year-over-year increase in trading revenue was interest rate and foreign exchange trading. Trading in interest rate products benefited from significant market moves in interest rates during the quarter, including a rise in the U.S. Treasury rate over the course of the quarter.
The OCC also reported:
# # #