Quarterly Report on Bank Trading and Derivatives Activities

Cumulative trading revenue of U.S. commercial banks and savings associations of $18.4 billion in the third quarter of 2025. Trading revenue was $1.8 billion, or 10.9 percent, more than in the previous quarter and $2.1 billion, or 12.7 percent, more than a year earlier.

As of the third quarter of 2025:

• a total of 1,221 insured U.S. national and state commercial banks and savings associations held derivatives.
• four large banks held 86.3 percent of the total banking industry notional amount of derivatives.
• initial credit exposure from derivatives before netting decreased in the third quarter of 2025 compared with the second quarter of 2025. Net current credit exposure decreased $15.8 billion, or 5.9 percent, to $252.0 billion.
• derivative notional amounts increased in the third quarter of 2025 by $8.3 trillion, or 3.7 percent, to $231.8 trillion.
• derivative contracts remained concentrated in interest rate products, which totaled $154.5 trillion or 66.7 percent of total derivative notional amounts.

Related Data

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• Quarterly Report on Bank Trading and Derivatives Activities: Third Quarter 2025 (XML)