The US Office of the Comptroller of the Currency’s quarterly report on bank trading and derivatives activities for Q4 2008 is out.
Somewhat counterintuitively, the notional value of derivatives held by US banks increased 14 per cent in the period, to $200 trillion.
It’s not quite £1.6 QUADRILLION! of course, but we can’t help reprise this photo.
Quarterly Report on Bank Trading and Derivatives Activities Q4 2008 – OCC
US commercial banks lost $9.2bn on derivatives trades in Q4 08 – FT Alphaville
Banks rip up credit derivatives - FT