Third Quarter 2021

Quarterly Report on Bank Trading and Derivatives Activities

The Office of the Comptroller of the Currency (OCC) reported trading revenue of U.S. commercial banks and savings associations of $6.8 billion in the third quarter of 2021. The third quarter trading revenue was $1.3 billion, or 15.5 percent, less than the previous quarter.

In the report, Quarterly Report on Bank Trading and Derivatives Activities, the OCC noted that trading revenue in third quarter 2021 decreased by 1.2 percent compared with the $6.9 billion reported in third quarter 2020.

The OCC reported that

  • while four large banks held 89.3 percent of the total banking industry notional amount of derivatives, a total of 1,357 insured U.S. national and state commercial banks and savings associations held derivatives at the end of third quarter 2021.
  • derivative contracts remained concentrated in interest rate products, which represented 71.4 percent of total derivative notional amounts.
  • the percentage of centrally cleared derivatives transactions decreased quarter-over-quarter to 39.0 percent in third quarter 2021.

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