Systemically important eurozone banks slashed over-the-counter derivatives notionals by 9% over 2018. Deutsche Bank reduced the most year-on-year, reversing the increase posted over 2017.
Aggregate swap notionals held by the eight eurozone global systemically important banks (G-Sibs) stood at €96 trillion ($108 trillion) at end-December, down from €105 trillion the year prior.
Cleared swaps accounted for 54% of the total and bilateral positions 61%. The aggregate year-on-year drop in