Bloomberg: Brexit Hits U.S. Bank Profits, Bonuses

Bloomberg reported that the combined Q2/16 net income of the six largest U.S. banks is expected to drop 18% year-over-year, resulting in bonus cuts.

FDIC: Banks Q3 Earnings up 5.1%; Chairman Warns of Credit Risk

The FDIC reported Q3/15 bank net income of $40.4 billion was up 5.1% or $1.9 billion from a year earlier. Chairman Martin J. Gruenberg noted “signs of growing interest-rate risk and credit risk that warrant attention.”