Trading revenue at banks was up 22.9%, for $2.4 billion, in the third quarter of this year from the previous quarter, and grew more than 84% higher than the end of the same period in 2021, the regulator of national banks said Monday.
According to the Quarterly Report on Bank Trading and Derivatives Activities, published by the Office of the Comptroller of the Currency (OCC), trading revenue at national banks and federal savings associations was up $5.8 billion at the end of the third quarter 2022 from the end of the same quarter a year earlier.
The OCC also said its report showed:
- A total of 1,211 insured U.S. national and state commercial banks and savings associations held derivatives – but four large banks held 88.6% of the total banking industry notional amount of derivatives.
- Derivative contracts remained concentrated in interest rate products, which represented 72.8% of total derivative notional amounts.
- The percentage of centrally cleared derivatives transactions decreased quarter-over-quarter to 41.7%.