Trading revenue was up 1.6% – or $263 million – in the third quarter for banks and savings associations, the national bank regulator said Thursday, and up 25% from the same period one year ago. The total for the third quarter end was $16.5 billion.
Meanwhile, the Office of the Comptroller of the Currency (OCC) said:
- 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%, to $237.0 billion.
- Derivative notional amounts increased in the third quarter of 2024 by $10.7 trillion, or 5.2%, to $218.8 trillion.
- Derivative contracts remained concentrated in interest rate products, which totaled $150.5 trillion or 68.8% of total derivative notional amounts.
While a total of 1,225 commercial banks and savings associations held derivatives at the end of the third quarter, the OCC noted, four large banks held 88.1% of the total banking industry notional amount of derivatives.