Derivatives league table

June 26, 2009

Goldman Sachs is moving up the derivatives charts—with a bullet.

In the latest ranking of US banks with large derivatives exposure, Goldman moves up from fourth place to second, according a report from the Office of the Comptroller of the Currencey. The notional value of Goldman’s derivatives contracts at the end of the first quarter was $39.9 trillion, up from $30.2 trillion in the fourth quarter of 2008.

Goldman leapfrogged over Citigroup and Bank of America. The total value of derivatives contracts is down a bit at Citi and holding steady at BofA compared to the fourth quarter. That’s not too surprisingly, given that those two banks continuing problems with troubled assets on their balance sheets.

But derivatives contracts are down too at JPMorganChase, the king of the derivatives mountain. Total notional value at JPMorgan fell to $81.1 trillion from $87 trillion.

Now Goldman still has a way to go to catch-up to the leader. But with Lehman Brothers and Bear Stearns out of the picture, it looks like Goldman means business.


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