Though Fannie Mae was profitable in Q3, the Enterprise’s net income and comprehensive income both declined by more than 50 percent from the previous quarter when it reported totals of $4.6 billion and $4.4 billion, respectively. The decline in net income was primarily due to fair value losses which were partially offset by credit-related income.
Read More »Freddie Mac Reports Q3 Net Loss of Nearly Half a Billion Dollars
The loss will not cause Freddie Mac to need another draw from Treasury since it was only a fraction of the $1.8 billion net worth reserve the Enterprise has under the Preferred Stock Agreement, according to Layton. The dividends paid into Treasury by Freddie Mac remained unchanged at $96.5 billion, which is about $25 billion more than the $71 billion the Enterprise received in a taxpayer-funded bailout in 2008.
Read More »BNY Mellon Posts Positive Financial Results in Q3 Despite RMBS Litigation Difficulties
The increase in net income during Q3 made it a positive quarter for the bank despite a lawsuit filed by the FDIC in August accusing the bank of breaching its duties as a bond trustee for $2 billion in residential mortgage-backed securities and despite having their own lawsuit against JPMorgan Chase over toxic RMBS dismissed.
Read More »Morgan Stanley’s Q3 Losses Driven by Volatility in Global Markets
Morgan Stanley reported net revenues of $7.8 billion for the quarter ending September 30, 2015, compared to net revenues of $8.9 billion from the same reporting period a year earlier. Net income applicable to Morgan Stanley for Q3 was also down from a year ago, from $1.7 billion at the end of Q3 2014 ($0.83 per diluted share) to $1.0 billion at the end of Q3 2015 ($0.48 per diluted share).
Read More »SunTrust, Comerica Offer a Mixed Bag in Q3 Results
SunTrust and Comerica earned mixed reviews after reporting year-over-year profit declines in the third quarter, according to the banks' earnings statements released Friday.
Read More »Citigroup, U.S. Bancorp Profitable in Q3 While Goldman Sachs Net Revenues are Down
Citigroup reported $4.3 billion in net income for the third quarter, or $1.35 per diluted share, up 53 percent from $2.8 billion, or $0.88 per share, in the same quarter a year ago. The bank also has revenues that reached $18.7 billion, down from $19.7 billion last year.
Read More »Revenue Remains Constrained for Banks in Q2 Despite Record Earnings
Earnings for the U.S. banking industry totaled a record 43 billion dollars during Q2 2015, a 7 percent year-over-year increase. Regional and community banks reported significantly higher earnings than larger banks during Q2, which is consistent with past periods.
Read More »FDIC-Insured Banks Post Record Aggregate Quarterly Income
U.S. banking institutions that are insured by the Federal Deposit Insurance Corp. (FDIC) earned an aggregate net income of $43.0 billion in the second quarter of 2015, up $2.9 billion from a year ago, according to the FDIC's Quarterly Banking Profile released Wednesday.
Read More »Fannie Mae’s Net Income Surges in Q2, But Still Lags Behind Last Year’s Pace
The quarter-over-quarter increase in net income for Q2 2015 was largely driven by fair value gains, offset by credit-related expense that was negatively affected by an increase in interest rates. Fannie Mae's net fair value gains in Q2 totaled $2.6 billion, compared with losses of $1.9 billion in Q1.
Read More »Freddie Mac’s Net Income Skyrockets; GSE to Pay Nearly $4 Billion to Treasury
Also for Q2, Freddie Mac reported $3.9 billion in comprehensive income, a five-fold increase from Q1's total of $746 million. With the inclusion of September 2015's Dividend Obligation of $3.9 billion, Freddie Mac will have returned $96.5 billion to taxpayers. Dividend payments do not include the $71.3 billion bailout Freddie Mac received from Treasury in 2008.
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