Banking

OCC: Trading income increased in very first quarter

Commercial banks reported overall trading income of $17.6 billion in the very first quarter of 2023, up 83.3% from the previous quarter and up 66% compared to the year prior to, according to the OCC’s Quarterly Report on Bank Trading and Derivatives Activities launched today.

An overall of 1,176 insured U.S. nationwide and state business banks and cost savings associations held derivatives, according to the report. Four big banks held 89% of the overall banking market notional quantity of derivatives. Derivative agreements stayed focused in rate of interest items, which amounted to $160.3 trillion, or 73.6%, of overall acquired notional quantities.

Gabriel

A news media journalist always on the go, I've been published in major publications including VICE, The Atlantic, and TIME.

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