The Traderszone Network

Published in TZ Latest News 14 July, 2015 by The TZ Newswire Staff

For U.S. banks, depositors could spoil joy of higher interest rates

Rising U.S. interest rates may not boost bank profits by as much as many executives and investors hope, JPMorgan Chase & Co (JPM.N) Chief Executive Jamie Dimon said on Tuesday. Investors expecting the Federal Reserve to lift rates this year have purchased U.S. bank shares, helping them perform much better than the overall U.S. stock market. Banks could be slow in paying higher rates to depositors, because customers were often reluctant to complete the paperwork necessary to switch their money to a different bank.