As the finances of individuals and companies began to recover, Citigroup was reducing its reserves and now released $ 1.6 billion in the third quarter.

The vibrant capital markets of the past six months have also boosted America’s largest lenders, with favorable monetary conditions driving record volumes of mergers and acquisitions (M&A) and initial public offerings.

Investment banking giant Morgan Stanley Inc crushed estimates on Thursday, reporting earnings of $ 3.58 billion, nearly 38% more than the same quarter a year earlier. This was thanks in large part to a record $ 1.27 billion in settlement consulting income.

“The investment bank itself and mergers and acquisitions are on a roll,” Gorman said in an interview with CNBC after the results. “We have world GDP growth, huge fiscal stimulus, historically low interest rates. People want to transact.”

The highlight of JPMorgan’s third quarter was also its Corporate & Investment Bank division, where advisory fees nearly tripled due to strong equity underwriting and mergers and acquisitions. In total, that division reported a 6% increase in net revenue to $ 12.4 billion.

At Bank of America, revenue from its equity division increased 33% year-over-year, driven by growth in customer financing activities and strong business performance, while Citigroup said revenue from its business from Stock markets rose 40%.

The bank released $ 1.1 billion of those hedge funds last quarter.

The business bank Morgan Stanley announced a net profit of 3.710 million dollars between July and September, which means 36% more than in the same quarter of last year.

Goldman Sachs, Wall Street’s most prolific negotiator, will wrap up banking earnings season on Friday.

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While consumer spending and capital markets shone, loan growth remained uneven.

JPMorgan said Wednesday that, on average, lending rose 5% across the bank compared to last year, while Bank of America, Citi and Wells Fargo reported declines in annual loan growth.