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US banks caution on economy as Fed rate hikes boost earnings
US banks caution on economy as Fed rate hikes boost earnings
Business and Economy
by  AFP

Results of large US banks released Friday underscored the boon from higher interest rates, as executives described the world's biggest economy as "resilient" but facing risks. Net interest income (NII), which accounts for the gap between revenues for higher interest rate charges on clients minus the hit from higher interest payments to depositors, jumped 44 percent to $21.9 billion.