US banks’ Ficc revenues nosedive in Q4 2018
Biggest drops seen between third and fourth quarters last year
US banks’ revenues from the sale and trading of fixed-income, commodities and currency (Ficc) products fell sharply in the fourth quarter of 2018, as challenging market conditions instigated drops of nearly 40% between Q3 and Q4, and nearly 20% between Q4 2017 and Q4 2018.
Among US banks, Bank of America Merrill Lynch weathered the storm best, with Ficc revenues falling 24.7% between the last two quarters of 2018 – from $1.98 billion in Q3 to $1.491 billion in Q4 – while revenues decreased by 6
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