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Highlights of Bank of America earnings: - The....>

US
US: Highlights of Bank of America earnings:
- The drop in net interest income was partially offset by loan and deposit
growth
- Sales and trading revenues were up 28%, with FICC up 50% and equities up 7%
- IB fees were up 57% to hit record levels
On the US consumer:
- Processed around 1.8mln payment deferrals for credit cards, auto loans, small
biz loans and mortgages. 92% of the deferral requests they receive are for
credit cards
- In week ending June 28th, deferral requests were down 98% from their early
April peak
- In last three weeks of June, debit spending was up 10% on average and
continued at higher levels into 4th July holidays
- Credit spending has been slower to improve, with BAC highlighting more likely
to be spent on travel and entertainment

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