Big Banks Drive Increase in Securities, Overdraft Income Slides

U.S. banks' securities holdings rose by $39.9 billion to $5.475 trillion during the first quarter, according to S&P Global Market Intelligence. However, much of the increase was driven by Bank of America, Goldman, BNY Mellon, and First Citizens, which added a total of $73.01 billion in debt securities. Seventy-five percent of banks actually reported a decline in debt securities. Unrealized losses also increased slightly during the period.

Meanwhile, another S&P article discussed how overdraft fee income declined from $1.41 billion to $1.36 billion, a three-year low, amid the CFPB and Biden Administration's war on junk fees.

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Rob Blackwell
Chief Content Officer and Head of External Affairs
IntraFi
Arlington, VA
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