BNY Mellon sees year-end lending revenue drop off
20 January 2020 New York
Image: Shutterstock
BNY Mellon’s Q4 2019 report showed a 7 percent decrease in securities lending revenue, compared to the same period the year before.
The bank’s agent lending desk, which is housed within its investment services business, brought in $40 million for the final quarter of 2019, down from $43 million in Q4 2018, but up from $39 million in Q3 2019.
In its quarterly report, BNY Mellon also revealed that the market value of its securities on loan at the end of Q4 was valued at $379 billion, compared to $373 billion at year-end 2018 and $372 billion at the close of Q3 2019.
The bank clarified that these figures do not include securities for which BNY Mellon acts as agent on behalf of CIBC Mellon clients, which totalled $60 billion as of 31 December 2019, $66 billion at the end of Q3 2019, and $58 billion at the end of 2018.
Elsewhere, BNY Mellon’s clearance and collateral management revenue increased slightly from $278 million in Q4 2018 to $280 million last quarter.
The bank says year-over-year increase primarily reflects growth in collateral management and clearance volumes, which were mostly offset by lower net interest revenue.
The bank’s agent lending desk, which is housed within its investment services business, brought in $40 million for the final quarter of 2019, down from $43 million in Q4 2018, but up from $39 million in Q3 2019.
In its quarterly report, BNY Mellon also revealed that the market value of its securities on loan at the end of Q4 was valued at $379 billion, compared to $373 billion at year-end 2018 and $372 billion at the close of Q3 2019.
The bank clarified that these figures do not include securities for which BNY Mellon acts as agent on behalf of CIBC Mellon clients, which totalled $60 billion as of 31 December 2019, $66 billion at the end of Q3 2019, and $58 billion at the end of 2018.
Elsewhere, BNY Mellon’s clearance and collateral management revenue increased slightly from $278 million in Q4 2018 to $280 million last quarter.
The bank says year-over-year increase primarily reflects growth in collateral management and clearance volumes, which were mostly offset by lower net interest revenue.
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