Lenders need to pay up to keep depositors, pressuring earnings.
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Royal Bank of Canada said on Friday its unit City National Bank would recognize realized losses in the third quarter after selling certain debt securities to another part of RBC.A surge in interest rates likely worsened unrealized losses on bonds and loans held by U.S. banks in the third quarter, further straining their balance sheets as they face pressure to pay more to keep depositors.This copy is for your personal, non-commercial use only.
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