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- Title
Profits and Balance Sheet Developments at U.S. Commercial Banks in 2003.
- Authors
Carlson, Mark; Perli, Roberto
- Abstract
The U.S. commercial banking industry remained highly profitable in 2003. The return on assets at banks surpassed the previous year's record level, and the return on equity approached the top of its recent range. Banks' profits and balance sheets were shaped in part by the financial and economic conditions that prevailed during the year. Perhaps most important, monetary policy remained highly accommodative. These economic developments left an imprint on banks' balance sheets. The strength of the housing market and the record levels of refinancing activity boosted the share of total bank assets accounted for by residential mortgages and mortgage-backed securities to 28.5 percent by the end of 2003. INSET: The Effects of FASB FIN 46 on Banks' Balance Sheets.
- Subjects
UNITED States; BANKING industry; FINANCIAL statements; FINANCE; SECURITIES; MONETARY policy
- Publication
Federal Reserve Bulletin, 2004, Vol 90, Issue 2, p162
- ISSN
0014-9209
- Publication type
Article
- DOI
10.17016/bulletin.2004.90-2-2