* Sees $20 mln reduction in quarterly deposit fee revenue
* Expects minimal impact from derivatives rule changes
NEW YORK Aug 17 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
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
Fifth Third shares closed at $12.19 on Monday.
(Reporting by Elinor Comlay, editing by Gerald E. McCormick)