Not so long ago, the US's biggest investment banks were still being blamed for bringing the global financial system to near collapse. As 2016 draws to a close, they have become a source of much-needed stability as the country enters a period of political uncertainty. The solvency and liquidity of the US's top five investment banks has been secure for some time, thanks to global reforms designed to shore up systemically important financial institutions. But their profitability and ability to generate revenue from businesses that other banks have been forced to cut back is a key theme from their 12-month earnings reports covering October 2015 to September 2016.
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