Big US banks dropped $24trn of OTC notionals at year-end

Total notionals reported by the eight US G-Sibs stood at $196.3 trillion at end-December

Large US banks eliminated $24.3 trillion of derivatives notionals in the last three months of 2018, cutting the size of their swaps books by 11% in aggregate.

Total notionals reported by the eight US global systemically important banks (G-Sibs) stood at $196.3 trillion at end-December.

JP Morgan shed the most of the pack in dollar terms, with a reduction in the fourth quarter of $8.5 trillion (16%) to $45.3 trillion. Goldman Sachs cut the second-most, by $7.4 trillion (17%) to $36.7 trillion

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