Equity swaps notional jumps by record $766bn at US G-Sibs
Notional rises 16% to $5.5 trillion in Q2, outpacing options growth
Equity swap notional reached a record high at US global systemically important banks (G-Sibs) in the second quarter of 2026.
Across all US G-Sibs reporting the metric, the notional value of equity swap contracts reached $5.5 trillion in Q2, up $766 billion from the previous quarter. The 16.3% quarter-on-quarter increase was the largest since public disclosures began in 2014.
Aggregate equity
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