US mortgage delinquencies increase

Banks’ third quarter results were hit by expected declines in investment banking, reflecting turbulence in global markets, and also by increasing failures to meet repayments of consumer debt, including mortgages and credit cards.

Citigroup’s revenues fell, but earnings were up. The group ‘hopes to return capital to shareholders next year’.

And this article reports how banks’ stocks are diverging, depending on their mix of ¬†consumer business, interest margins, and accounting treatments.

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