Taking advantage of recent volatility in interest and exchange rates, banks racked up a record $2.5 billion of derivatives trading revenue in the third quarter, 26% more than in the second, the Office of the Comptroller of the Currency said Monday.

"Profits have been incredibly strong recently," said Michael L. Brosnan, the agency's director of treasury and market risk. "Customers are more conscious about hedging these risks and, to a lesser extent, the market volume is giving bank traders an opportunity to make money in their own accounts."

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