The world's biggest banks have earned more than $900m in fees in less than four months by selling government-guaranteed bank debt to investors.
JPMorgan earned almost $130m from selling 51 bonds, while Bank of America/Merrill Lynch has netted $105m in fees from 34 issues since October, according to data from Thomson Reuters and Freeman & Co.
The fees have come as a relief to the banks which have seen their revenues from fixed income and mergers and acquisitions collapse in the credit crisis.
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