When banks use derivatives, they typically go to the over-the-counter market looking for interest rate contracts, according to a report on the use of derivatives by banks.

The report by the Office of the Comptroller of the Currency said the notional value of interest rate contracts held by banks was nearly twice that of foreign exchange and other contracts combined at the end of the first quarter.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.