BNP Paribas leads EU banks in CDS trading in 2018

French bank had €868 billion of credit derivatives notionals outstanding at year-end

BNP Paribas boasted the largest credit derivatives trading portfolio of top European Union banks in 2018, with €868 billion ($966 billion) of notionals outstanding.

The French bank disclosed €446 billion of credit protection bought and €421 billion sold in its trading book on behalf of clients. Of outstanding notionals, €406 billion (47%) related to single-name credit default swaps, €359 billion (41%) to index CDS and €78 billion (9%) to credit options.

Deutsche Bank and Barclays trailed BNP

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