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On the whole, large banks appear to have primed their books for a rebound in rates: levels of short-term assets relative to short-term liabilities are now higher than they have been during roughly the past decade. The postures of individual institutions vary widely, however.
Despite richer returns available further out on the yield curve, large banks have generally not shifted toward long-dated securities, according to regulatory data.
Growth was particularly brisk at institutions with less than $20 billion of assets, where CEO compensation measured 2% of total payroll expenses, a far higher level than at larger banks.
Annual meetings held by Citi and Bank of New York Mellon have been shaken by investor dissent over executive pay, and observers anticipate more rebukes in the coming month.
If banks periodically follow these guidelines to revise their plans and adjust their cost structures, they will be ready to respond to almost all evolving market conditions.
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