U.S. bank profits increased by 11.4% to $71.5 billion in the second quarter of 2024, driven by a decline in noninterest expenses and gains on sales of securities, according to a report by the Federal Deposit Insurance Corporation (FDIC). Additionally, a $4 billion reduction in expenses related to a special assessment contributed to the profit boost. Despite the rise in profits, there are signs of rising stress in credit-card debt and loans tied to office properties. Concurrently, the Federal Reserve, FDIC, and OCC plan to unveil revised bank-capital rules, reducing the capital hike for the largest banks from 19% to 9% after industry pushback and regulatory delays. Fed Vice Chair Michael Barr will outline the changes to the Basel III Endgame proposal on September 10, 2024.