Fifth Third Bancorp aggressively cut the interest rates it offered to depositors in the second quarter, slashing yields on interest-bearing deposits at the fastest rate of all commercial banks, according to a quarterly survey by Citigroup.

The rate cuts are one of several strategies US regional banks such as Fifth Third are using to boost earnings and bolster their financial positions amid the lingering housing slump. Other banks aggressively cutting back on interest rates for depositors include National City, based in Ohio, and Georgia-based Synovus Financial.