Northern Trust sec lending revenue sees slight dip
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Northern Trust sec lending revenue sees slight dip 23 October 2014Chicago Reporter: Mark Dugdale
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Northern Trust’s securities lending revenue decreased 3 percent in Q3 2014, from $22.7 million in Q3 2013 to $22 million, primarily reflecting lower spreads offset by higher volumes in the current quarter.
Its custody and fund administration fees increased 15 percent in Q3 2014 to $275 million.
The bank attributed the corporate and institutional services business boost to new business and the favourable impacts of equity markets and movements in foreign exchange rates.
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