BNY Mellon: Securities lending total revenue increases
23 July 2018 New York
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BNY Mellon’s securities lending total revenue increased in Q2 this year, its Q2 2018 Earnings Release report found.
The income for securities lending revenue reached $55 million for Q2 compared with
$42 million in the same period last year.
Meanwhile, there was also an increase in clearance and collateral management.
Average tri-party collateral management balances stood at $2.8 billion, which compared with $2.4 billion in Q2 last year.
Additionally, BNY Mellon’s Q2 total revenue for asset servicing stood at $1.5 billion, compared to its $1.3 billion for Q2 last year.
The year-over-year increase in asset servicing reflected higher net interest revenue, foreign exchange, and securities lending volumes.
Additionally, equity market values and the favourable impact of a weaker US dollar also reflected the increase, BNY Mellon revealed.
Charles Scharf, chairman and CEO, commented: “We saw pockets of strength, in investment services, especially where we have differentiated capabilities such as clearance, collateral management, tri-party repo and liquidity services.”
He added: “Investment management growth moderated as we saw some softness across the board in our asset flows.”
The income for securities lending revenue reached $55 million for Q2 compared with
$42 million in the same period last year.
Meanwhile, there was also an increase in clearance and collateral management.
Average tri-party collateral management balances stood at $2.8 billion, which compared with $2.4 billion in Q2 last year.
Additionally, BNY Mellon’s Q2 total revenue for asset servicing stood at $1.5 billion, compared to its $1.3 billion for Q2 last year.
The year-over-year increase in asset servicing reflected higher net interest revenue, foreign exchange, and securities lending volumes.
Additionally, equity market values and the favourable impact of a weaker US dollar also reflected the increase, BNY Mellon revealed.
Charles Scharf, chairman and CEO, commented: “We saw pockets of strength, in investment services, especially where we have differentiated capabilities such as clearance, collateral management, tri-party repo and liquidity services.”
He added: “Investment management growth moderated as we saw some softness across the board in our asset flows.”
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