Quarterly Report on Bank Trading and Derivatives Activities

Cumulative trading revenue of U.S. commercial banks and savings associations was $15.0 billion in the first quarter of 2025. Trading revenue was $408 million, or 2.7 percent, less than in the previous quarter and $297 million, or 1.9 percent, less than a year earlier.

As of the first quarter of 2025:

• a total of 1,213 insured U.S. national and state commercial banks and savings associations held derivatives. 
• four large banks held 87.1 percent of the total banking industry notional amount of derivatives. 
• initial credit exposure from derivatives before netting decreased in the first quarter of 2025 compared with the fourth quarter of 2024. NCCE decreased $21.3 billion, or 7.9 percent, to $249.0 billion.
• derivative notional amounts increased in the first quarter of 2025 by $23.9 trillion, or 12.8 percent, to $210.4 trillion.
• derivative contracts remained concentrated in interest rate products, which totaled $141.0 trillion or 67.0 percent of total derivative notional amounts.

Related Data

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