Top US banks load up on derivatives in Q1
Credit, commodity and interest rate notionals balloon
The first quarter of 2026 roiled the derivatives portfolios of top US banks, with credit, commodity and interest rate instruments surging.
Credit default swap (CDS) notionals surged both in terms of instruments sold and purchased, with rises of 28.2% and 23.7% to $2.97 trillion and $3.22 trillion, respectively, across the eight US global systemically important banks (G-Sibs). These marked the
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