Risk Quantum/Federal Deposit Insurance Corporation (FDIC)
US branches of foreign banks shed $91 billion of reserves in 2018
Drop-off coincides with Fed’s ‘normalisation’ strategy
Banks see higher FDIC charges lasting through 2018
Levy adds millions to dealers' expenses
Bank of America and BNY Mellon suffer VAR breaches
Trading losses exceeded estimates on a single day at each dealer in the first quarter