Northern Trust rejigs funding as deposit costs rise

Net interest income drops 10.5%, cash at central banks falls by a quarter

Northern Trust’s funding was in flux in the third quarter, with the custodian offloading Federal Home Loan Bank (FHLB) advances and federal funds while doubling long-term debt.

The Chicago-based bank also saw deposits decline in number and rise in cost, driving down net interest income more than expected and eating into cash held at central banks.

!function(e,n,i,s){var d="InfogramEmbeds";var o=e.getElementsByTagName(n)[0];if(window[d]&&window[d].initialized)window[d].process&&window[d]

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here