The Office of the Comptroller of the Currency (OCC) reported cumulative trading revenue of U.S. commercial banks and savings associations of $16.5 billion in the third quarter of 2024. The third quarter trading revenue was $263 million, or 1.6 percent, more than in the previous quarter and $3.3 billion, or 25.0 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 third quarter of 2024:
- a total of 1,225 insured U.S. national and state commercial banks and savings associations held derivatives.
- four large banks held 88.1 percent of the total banking industry notional amount of derivatives.
- credit exposure from derivatives decreased in the third quarter of 2024 compared with the second quarter of 2024. Net current credit exposure decreased $23 billion, or 9 percent, to $237.0 billion.
- derivative notional amounts increased in the third quarter of 2024 by $10.7 trillion, or 5.2 percent, to $218.8 trillion.
- derivative contracts remained concentrated in interest rate products, which totaled $150.5 trillion or 68.8 percent of total derivative notional amounts.
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Source: OCC
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