Custody banks add $6.5 trillion assets

BNY Mellon extended its lead over State Street and JP Morgan in the second quarter

Assets under custody and administration (Auca) at the three largest US custody banks surged in the second quarter of the year, hitting an all-time high.

Total Auca stood at $119.7 trillion at end-June, up 5.8% quarter on quarter, and 21.8% year on year.

BNY Mellon led the charge with a quarterly increase of $3.3 trillion (7.9%) to $45 trillion. State Street followed suit with a $2.3 trillion (5.8%) increase to $42.6 trillion, while JP Morgan’s rose $871 billion (2.8%) to $32.1 trillion.

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