Summary of the U.S. Derivatives Market

U.S. commercial banks currently hold a notional value of $244 trillion in derivatives.
Trading exposure, which is measured by VaR (Value at Risk), is $677 million.
Net Current Credit Exposure of commercial banks to derivatives is $353 billion, due to bilateral netting.
Potential Future Exposure is $814 billion, bringing Total Credit Exposure (NCCE + PFE) to $1.2 trillion.
The total amount of Credit Derivatives outstanding is $14.9 trillion.
30 days or more past due derivatives equaled $42 million, and $74 million in derivatives was charged off this quarter.
59% of counterparties are banks and securities firms, 35% are corporations, 1% are monoline financial firms, 2% are hedge funds, and 3% are sovereign funds.
Banks hold collateral equal to 72% of Net Current Credit Exposure.
82% of derivatives are interest rate products, 10.9% in FX contracts, 6.1% in credit derivatives, and .6% are in commodities and equity contracts, respectively.
Five banks dominate the U.S. derivatives market, J.P. Morgan Chase (JPM), Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), and HSBC (HBC), accounting for 96% of the derivatives activity. However, a total of 1,047 U.S. banks participated in the derivatives market in the first quarter.
Banks reported trading revenue (revenue pertaining to derivatives) of $7.4 billion in the first quarter of 2011.