Citi’s share of cleared swaps hits new high
Latest quarterly increase, alongside that of Goldman Sachs, bucks trend across top US banks
Citi’s share of cleared trades accounted for more than 60% of its swaps book at the end of 2021 – the highest point on record for the bank and the second-highest level among the eight systemic US banks.
The dealer reported $23.1 trillion of cleared derivatives notionals at end-December, up $395 billion from the previous quarter. Bilateral positions fell almost 8% to $15.2 trillion over the same period, bringing the total notional amount of over-the-counter derivatives contracts to $38.3
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