Morgan Stanley cleared swaps jump 9% in Q3

Latest quarterly increase, alongside that of Bank of America and State Street, bucks the trend across top US banks

Morgan Stanley grew its cleared swaps book by 9% in the third quarter – the biggest increase among the US systemic banks.

The dealer reported $17.9 trillion of cleared derivatives notionals at end-September, the highest level since Q1 2020. Bilateral positions fell 2% to $15.2 trillion over the same period, bringing the total notional amount of over-the-counter derivatives contracts to $33.1 trillion.

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Bank of America also posted an increase in cleared swaps notionals, up 7% to $22.6

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