📰 🔸US BANK PROFITS DECLINE BY 3.4% TO $68.4B IN Q3 2023 – FDIC 🔸BANK PROFITS YEAR-OVER-YEAR DOWN 4.6%, AS PROVISION EXPENSES JUMP 33.2% 🔸BANKS’ UNREALIZED LOSSES ON SECURITIES CLIMB 22.5% IN Q3 2023 TO $683.9B, PRIMARILY DUE TO REDUCED VALUE IN MORTGAGE-BACKED SECURITIES

🔸US BANK PROFITS DECLINE BY 3.4% TO $68.4B IN Q3 2023 – FDIC

🔸BANK PROFITS YEAR-OVER-YEAR DOWN 4.6%, AS PROVISION EXPENSES JUMP 33.2%

🔸BANKS’ UNREALIZED LOSSES ON SECURITIES CLIMB 22.5% IN Q3 2023 TO $683.9B, PRIMARILY DUE TO REDUCED VALUE IN MORTGAGE-BACKED SECURITIES