UPDATE 1-Fifth Third sees lower deposit fee revenue
* Sees $20 mln reduction in quarterly deposit fee revenue
* Expects minimal impact from derivatives rule changes
NEW YORK Aug 17 (Reuters) - Fifth Third Bancorp (FITB.O) expects to see lower deposit fees as a result of U.S. financial regulation passed in July.
The Cincinnati-based bank said it expects deposit fees to be reduced about $20 million each quarter, not including any steps it might take to offset that lower fee revenue, according to a presentation to investors filed with regulators on Tuesday.
Fifth Third received $149 million in deposit service charges and it had about $82 billion in total deposits in the second quarter, according to a quarterly filing.
Larger banks such as Bank of America Corp (BAC.N) and JPMorgan Chase & Co (JPM.N) have also said they will be affected by rules that limit overdraft fees for bank customers. The banks broadly have said they are looking for other ways to make up for the lost fee revenue.
Fifth Third said separately in the presentation that it expects only a minimal impact from other rules affecting banks' use of over-the-counter derivatives and trading for their own accounts.
Fifth Third shares closed at $12.19 on Monday. (Reporting by Elinor Comlay, editing by Gerald E. McCormick)
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