US banks record highest number of loss-making days in six years
Wells Fargo, Citi and JP Morgan the worst performers in record-breaking Q4
Systemic US banks incurred more loss-making trading days in the last three months of 2021 than in any quarter since public disclosures began in 2015, with Wells Fargo, Citi and JP Morgan taking the most hits of the group.
On aggregate, the eight banks reported 313 losing days in the October-December period – around 39 on average. This compares with 228 loss-making days the quarter prior and 299 in Q4 2020. The previous record had been set in Q4 2015 with 311 days.
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