Insured commercial banks said their second-quarter revenue from trading cash and derivative instruments more than doubled from the first quarter, to $1.6 billion, the Office of the Comptroller of the Currency said Friday.

"The trading environment remains challenging, and while revenues improved in the second quarter of 2008, overall performance remains weak, due to the continued writedown of credit exposures in the trading portfolios," said Kathryn Dick, the deputy comptroller for credit and market risk for the OCC.

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