BlackRock’s interest rate swaps notional climbs 20%

Counterparty Radar: US retail funds continued to add to their positions in Q4


The gross interest rate swaps notional of BlackRock’s US mutual funds and exchange-traded funds jumped 20% to reach $124 billion in the final quarter of 2023, as usage of the instrument by retail funds remained at elevated levels.

In the fourth quarter, the aggregate value of all interest rate swaps held by ’40 Act funds rose 4% to $913 billion, according to data from US Securities and Exchange Commission filings aggregated and analysed by’s Counterparty Radar service.

Capital Group’s

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