JPMorgan, Citi, Wells Fargo Post Record $56.5B Combined Q3 Net Interest Income

The record haul shows the largest U.S. banks still converting a higher-rate environment into widening spreads, even as the deposit-cost tailwind that powered earlier quarters fades. That resilience matters for the competitive position of bank-issued settlement and tokenized-deposit efforts, which scale with balance-sheet capacity. The open question is whether loan demand holds if funding costs keep repricing, and whether JPMorgan's own guidance for further gains in 2027 reflects durable pricing power or a slower deposit pass-through than peers.