Derivatives notionals at Wells Fargo, BofA fell in 2020
Written options notionals dropped 12% in aggregate
Aggregate derivatives notional positions held by the top six Wall Street dealers stood at $190.19 trillion at end-2020, down over 3% on the prior year. Wells Fargo disclosed the largest year-on-year drop, with notionals falling 25% to $9.23 trillion.
Bank of America also posted a large decline, of nearly 10% to $26.78 trillion. In contrast, Citi and JP Morgan saw notionals increase slightly over the year, by just over 1% to $40 trillion at the former and less than half a per cent to $45.42
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