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US banks reap $2.7 bln in Q1 commodities revenue-OCC

Posted on 21 June 2011

U.S. bank holding companies including Goldman Sachs and JP Morgan raked in $2.7 billion in commodity and other trading revenue in the first quarter, the highest in at least two years, data showed.
Revenues surged 67 percent versus the fourth quarter of 2010 and rose by a third from the first quarter a year ago, according to a quarterly derivatives report by the Office of the Comptroller of the Currency (OCC). The total was the highest since the OCC, an arm of the U.S. Treasury that supervises all national banks, began breaking out the holding company data in early 2009……………………………………….Full Article: Source


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