Quarterly Report on Bank Trading and Derivatives Activities

The Office of the Comptroller of the Currency (OCC) reported cumulative trading revenue of U.S. commercial banks and savings associations of $13.7 billion in the second quarter of 2023. The second quarter trading revenue was $3.9 billion, or 22.4 percent, less than in the previous quarter and $3.3 billion, or 31.7 percent, more than in the second quarter of 2022.

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

• a total of 1,186 insured U.S. national and state commercial banks and savings associations held derivatives.
• four large banks held 87.0 percent of the total banking industry notional amount of derivatives.
• credit exposure from derivatives increased in the second quarter of 2023 compared with the first quarter of 2023. Net current credit exposure increased $27.0 billion, or 10.8 percent, to $273.0 billion.
• derivative notional amounts increased in the second quarter of 2023 by $4.3 trillion, or 2.0 percent, to $221.9 trillion.
• derivative contracts remained concentrated in interest rate products, which totaled $164.1 trillion or 73.9 percent of total derivative notional amounts.

Related Data

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• Quarterly Report on Bank Trading and Derivatives Activities: Second Quarter 2023 (XML)