Bank of America Corp & Citigroup Inc expect weaker trading income in the 4th quarter, according to presentations they made at a investor seminar in New York.

Bank of America said its sales and trading revenue was expected to drop from both the 3rd quarter and a year previously, slides revealed at the seminar & available on the bank's web site showed.

No numbers for the quarter were offered in the BofA slides, which were prepared for presentation at the Goldman Sachs U.S. Financial Solutions Seminar on Tuesday.

Citigroup's market revenue will fall regarding 5 %, Chief Executive Mike Corbat said at the seminar.

Fixed-income trading has been on a declining trend since 2009, mostly due to new regulations that prevent banks from taking unnecessary risks.

A number of large banks have already scaled back their trading operations or quit this business altogether, and also there are doubts regarding whether the industry will ever really rebound.

Still, most huge U.S. banks reported better-than-expected trading profits in the 3rd quarter when upbeat UNITED STATE economic information, stimulus actions in Europe, and also the shock leave of trading superstar Bill Gross from bond trading giant Pimco provided the market a pick-me-up.

Bank of America's shares were down 1.9 % at $17.32 in late early morning trading on the New York Stock Exchange. Citigroup's shares were down 2.4 % at $54.99.