Fed Looms Larger Than Ever for Banks to Extend $30 Billion Haul
- Five biggest U.S. lenders crack $30 billion in profit
- Executives lower outlook for lending income as rates fall
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It’s all about the Fed.
That was the takeaway after the five biggest U.S. lenders reported second-quarter results, as lower interest rates weighed on banks’ outlooks for lending income while also helping to keep credit quality relatively pristine.