Quarterly Report on Bank Trading and Derivatives Activities: Second Quarter 2024

Cumulative trading revenue of U.S. commercial banks and savings associations was $15.8 billion in the second quarter of 2024. Trading revenue was was $218 million, or 1.4 percent, more than in the previous quarter and $2.2 billion, or 16.0 percent, more than a year earlier.

As of the second quarter of 2024:

• a total of 1,231 insured U.S. national and state commercial banks and savings associations held derivatives.
• four large banks held 88.1 percent of the total banking industry notional amount of derivatives.
• credit exposure from derivatives increased in the second quarter of 2024 compared with the first quarter of 2024. Net current credit exposure increased $9.0 billion, or 3.4 percent, to $260.0 billion.
• derivative notional amounts increased in the second quarter of 2024 by $2 trillion, or 1.0 percent, to $208.1 trillion.
• derivative contracts remained concentrated in interest rate products, which totaled $145.0 trillion or 69.7 percent of total derivative notional amounts.

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