Fourth Quarter 2020

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 $6.3 billion in the fourth quarter of 2020. The fourth quarter trading revenue was $588.0 million, or 8.5 percent, less than the previous quarter.

In the report, Quarterly Report on Bank Trading and Derivatives Activities, the OCC noted that trading revenue in fourth quarter 2020 decreased by 11.0 percent compared with the $7.1 billion reported in fourth quarter 2019.

The OCC reported that

  • while four large banks held 88.4 percent of the total banking industry notional amount of derivatives, a total of 1,382 insured U.S. commercial banks and savings associations held derivatives at the end of fourth quarter 2020.
  • derivative contracts remained concentrated in interest rate products, which represented 70.8 percent of total derivative notional amounts.
  • the percentage of centrally cleared derivatives transactions decreased quarter-over-quarter to 35.0 percent in fourth quarter 2020.

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