Bank of America cleared swaps jump $6.6trn

Bank’s quarterly increase leads US G-Sibs’ $25trn rise in Q1

Bank of America grew its cleared swaps book by 47% to a notional $20.6 trillion in size in the first three months of the year – the biggest rise among the eight US global systemically important banks (G-Sibs).

The bank grew its bilateral positions by $1.3 trillion (10%) over the period, bringing the total notional amount of over-the-counter derivatives contracts to $34.7 trillion – up 30% quarter-on-quarter.

On aggregate, the US G-Sibs increased their cleared derivatives notionals by $24.9

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