Thursday, December 29, 2016
Derivatives are still a problem
As of the quarter ending June 30, 2016 the Office of the Comptroller of the Currency (OCC) indicates that U.S. bank holding companies have a total notional amount (face amount) of derivatives of $252.6 trillion. Of that total, just five Wall Street banks hold $230 trillion. Those five banks are: Citigroup, JPMorgan Chase, Goldman Sachs Group, Bank of America and Morgan Stanley.Citigroup has $53.6 trillion in total notional amount of derivatives — and has only $1.8 trillion in assets.