The United States Office of the Comptroller of the Currency (OCC) published its Quarterly Report on Bank Trading and Derivatives Activities for the fourth quarter of 2024, reporting USD 14.8bn in cumulative trading revenue for U.S. commercial banks and savings associations. Trading revenue was down USD 1.8bn (10.6%) from the previous quarter and up USD 3.1bn (26.7%) from a year earlier. As of the end of the fourth quarter, 1,202 insured U.S. national and state commercial banks and savings associations held derivatives, with four large banks accounting for 86.5% of total industry notional amounts. Total derivative notionals fell by USD 32.2tn (14.7%) to USD 186.5tn, remaining concentrated in interest rate products at USD 125.9tn (67.5% of total notionals). Initial credit exposure from derivatives before netting decreased versus the third quarter, while net current credit exposure rose USD 33bn (14.1%) to USD 270bn.
Office of the Comptroller of the Currency 2025-03-21
United States Office of the Comptroller of the Currency reports USD 14.8bn fourth-quarter 2024 bank trading revenue and derivatives notionals of USD 186.5tn
The U.S. Office of the Comptroller of the Currency reported USD 14.8bn in trading revenue for U.S. commercial banks and savings associations in Q4 2024, a 10.6% decrease from the previous quarter but a 26.7% increase year-over-year. Four large banks held 86.5% of total industry notional amounts, with total derivative notionals declining by USD 32.2tn to USD 186.5tn, primarily in interest rate products. Net current credit exposure rose by USD 33bn to USD 270bn.