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News Release 2024-35 | March 27, 2024

OCC Reports Fourth Quarter 2023 Bank Trading Revenue

WASHINGTON—The Office of the Comptroller of the Currency (OCC) reported cumulative trading revenue of U.S. commercial banks and savings associations of $11.6 billion in the fourth quarter of 2023. The fourth quarter trading revenue was $1.6 billion, or 11.8 percent, less than in the previous quarter and $2 billion, or 20.4 percent, more than a year earlier.

In the report, Quarterly Report on Bank Trading and Derivatives Activities, the OCC also reported that as of the fourth quarter of 2023:

  • a total of 1,185 insured U.S. national and state commercial banks and savings associations held derivatives.
  • four large banks held 87.4 percent of the total banking industry notional amount of derivatives.
  • credit exposure from derivatives decreased in the fourth quarter of 2023 compared with the third quarter of 2023. Net current credit exposure decreased $68.0 billion, or 22.0 percent, to $240.0 billion.
  • derivative notional amounts decreased in the fourth quarter of 2023 by $11.7 trillion, or 5.7 percent, to $192.5 trillion.
  • derivative contracts remained concentrated in interest rate products, which totaled $136.3 trillion or 40.8 percent of total derivative notional amounts.

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