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News Release 2024-70 | June 25, 2024

OCC Reports First Quarter 2024 Bank Trading Revenue

WASHINGTON—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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