Wednesday, October 8, 2008
Who's Got the Biggest Derivatives Exposure?
For years, I've heard rumors about which banks and Wall Street investment firms hold what amount of derivatives. Well, I've found the official numbers.
Specifically, the following table shows the top 25 American commercial bank and trust company holders by notional value of all derivatives:(click for larger image).
(click for larger image).
This information comes from the official Comptroller of the Currency Administrator of National Banks' Quarterly Report on Bank Trading and Derivatives Activities for the Second Quarter of 2008. Past reports can be found here.
The British Bankers Association also reports on the largest types of buyers of credit default swaps:
(click for larger image).
And the BBA reports on the largest types of sellers of credit default swaps:
(click for larger image).Moreover, in 2006, Fitch reported by name the biggest counterparties in credit default swap contracts.
This information comes from a 2007 report from the International Swaps and Derivatives Association.
Unofficial sources fill in some of the missing details. For example, economist Nouriel Roubini shows that hedge funds have large exposure in both credit default swap and collateralized fund obligations type derivatives .
And an article in the Guardian quotes an analyst as saying that "Barclays and Royal Bank of Scotland [are] most exposed among the UK banks to the credit derivatives market. Both have bought and sold, in roughly equal measure, £2.4 trillion of such contracts."
Sovereign wealth funds also hold alot of derivatives. For example, this chart shows that sovereign wealth funds have more than one trillion dollars in single-name CDS instruments.
See also this for foreign banks that were large counterparties for Lehman CDS.
3 comments:
→ Thank you for contributing to the conversation by commenting. We try to read all of the comments (but don't always have the time).
→ If you write a long comment, please use paragraph breaks. Otherwise, no one will read it. Many people still won't read it, so shorter is usually better (but it's your choice).
→ The following types of comments will be deleted if we happen to see them:
-- Comments that criticize any class of people as a whole, especially when based on an attribute they don't have control over
-- Comments that explicitly call for violence
→ Because we do not read all of the comments, I am not responsible for any unlawful or distasteful comments.
Youth is not wow gold a time of life;world of warcraft gold it is a state of mind; cheap wow gold it is not a Maple Story Accounts matter of rosy cheeks, red lips and supple knees;mesos it is a matter of the will, a quality of the imagination,wow gold kaufen a vigor of the emotions; it is the freshness wow geld of the deep springs of life.maple story mesos Youth means a tempera-mental predominance of courage over timidity, of the appetite for adventure over the love of ease. This often exists in a man of 60 more than a boy of 20.wow gold farmen Nobody grows old merely by a number of years.maple story money We grow old by deserting our ideals.ms mesos Years may wrinkle the skin, but to give up enthusiasm wrinkles the soul. Worry, fear, self-distrust bows the heart and turns the spring back to dust. Whether 60 or 16, there is in every human being’wow powerleveling s heart the lure of wonder, the unfailing childlike appetite of what’s maple story money next and the joy of the game of living.powerlevel In the center of your heart and my heart there is a wireless station: so long as it receives messages maplestory powerleveling of beauty, hope, cheer,world of warcraft power leveling courage and power from men and from the Infinite
ReplyDeleteWoW shares many wow gold of its features with previously launched games. Essentially, you battle with Cheapest wow gold monsters and traverse the countryside, by yourself or as a buy cheap wow gold team, find challenging tasks, and go on to higher Cheap Wow Gold levels as you gain skill and experience. In the course of your journey, you will be gaining new powers that are increased as your skill rating goes up. All the same, in terms of its features and quality, that is a ture stroy for this.WoW is far ahead of all other games of the genre the wow power leveling game undoubtedly is in a league of its own and cheapest wow gold playing it is another experience altogether.
ReplyDeleteEven though WoW is a wow gold cheap rather complicated game, the controls and interface are done in buy warhammer gold such a way that you don't feel the complexity. A good feature of the game is that it buy wow items does not put off people with lengthy manuals. The instructions cannot be simpler and the pop up tips can help you start playing the game World Of Warcraft Gold immediately. If on the other hand, you need a detailed manual, the instructions are there for you to access. Buy wow gold in this site,good for you ,WoW Gold, BUY WOW GOLD.
www.aypearl.com
ReplyDeletewholesale jewelry , supply vast kinds of styles handmade jewelry,mainly engage in handmade jewelry wholesale handmade jewelry,such as wholesale pearl wholesale crystalwholesale gemstone,wholesale costume jewelry,also wholesale fashion jewelry like wholesale swarovski crystal,wholesale beads,wholesaleturquoise,wholesale coral,wholesale costume jewelry ,shell jewelrycostume jewelry and discount jewelry, jewelry wholesale, just on AYpearl jewelry store.