US bank swaps books rebound after G-Sib reckoning

Large US banks increased their over-the-counter (OTC) derivatives notionals, as well as their connections with other financial firms and overseas institutions in the first quarter, after cutting them dramatically at the end of last year – repeating a seasonal pattern seemingly driven by the Federal Reserve’s global systemically important bank (G-Sib) methodology.

In aggregate, the eight US G-Sibs increased total OTC derivative notionals by $28 trillion, or 15%, on the quarter, after shrinking

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