Derivatives up $4.9trn at HSBC in H1
Swollen portfolio could push bank into higher G-Sib surcharge bucket
HSBC’s derivatives book expanded 15% in the first six months of the year, with interest rate swaps leading the charge.
Gross derivatives notionals stood at $39 trillion at end-June, up $4.9 trillion compared with end-December. Notionals increased 25% year on year, or $7.8 trillion.
Interest rate derivatives made up $29 trillion of the total, up 17% from $24.8 trillion six months prior.
Foreign exchange derivatives notionals rose $615 billion (8%) to $8.2 trillion, and credit derivatives
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