At the end of the second quarter, the average U.S. bank paid depositors an annual interest rate of 2.2%, according to Federal Deposit Insurance Corporation data. This is higher than the 0.2% rate two years ago but well below the Fed's 5.5% overnight rate. JPMorgan Chase and Bank of America reportedly paid 1.5% and 1.7% on average, respectively. Those lower payments to depositors generated roughly $1.1 trillion in additional revenue, about half of total bank income over the period, the Financial Times' calculations indicate.