Sizable increase in Q1 ’22 trading revenue posted by some banks in first quarter for $3.4 billion

An increase of 47.8% in trading revenue – $3.4 billion – was recorded by banks and savings associations in the first quarter over the end of last year, the regulator of national banks said Tuesday, for a total of $10.6 billion.

As in the past, the Office of the Comptroller of the Currency (OCC) said four large banks held the vast majority of the total banking industry notional amount of derivatives, or 89%.

The agency also said the first-quarter 2022 trading revenue was up slightly from the first quarter of the previous year by $10 million (0.1%). It also said:

  • Derivative contracts remained concentrated in interest rate products, which represented 72.8% of total derivative notional amounts.
  • The percentage of centrally cleared derivatives transactions increased quarter-over-quarter to 43.4%.

OCC Reports First Quarter 2022 Bank Trading Revenue