Swaps between UK banks and foreign firms up in Q3

Despite latest uptick, gross value of derivatives contracts held by UK banks is 67% below 2008 peak

UK banks built up swap positions with overseas companies in the third quarter, data from the Bank of England (BoE) shows.

The gross value of derivatives – assets plus liabilities – held by UK dealers increased 1% to £5.07 trillion ($6.7 trillion) over the three months to end-September.



Of the total, gross value of derivatives between UK banks and other kinds of foreign firms climbed 3% to £871 billion. Those between UK dealers and other UK entities rose 11% to £45.8 billion.


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