The Office of the Comptroller of the Currency (OCC) reported cumulative trading revenue of U.S. commercial banks and savings associations of $15.6 billion in the first quarter of 2024. The first quarter trading revenue was $4.0 billion, or 34.2 percent, more than in the previous quarter and $2.0 billion, or 11.1 percent, less than a year earlier.
In the report, Quarterly Report on Bank Trading and Derivatives Activities, the OCC also reported that as of the first quarter of 2024:
- a total of 1,208 insured U.S. national and state commercial banks and savings associations held derivatives.
- four large banks held 87.6 percent of the total banking industry notional amount of derivatives.
- credit exposure from derivatives increased in the first quarter of 2024 compared with the fourth quarter of 2023. Net current credit exposure increased $11.0 billion, or 4.6 percent, to $251.0 billion.
- derivative notional amounts increased in the first quarter of 2024 by $13.6 trillion, or 7.1 percent, to $206.1 trillion.
- derivative contracts remained concentrated in interest rate products, which totaled $144.4 trillion or 70.1 percent of total derivative notional amounts.
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Source: OCC
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