Commercial banks' trading revenue plummeted 66% in the fourth quarter, to $1.9 billion, according to the Office of the Comptroller of the Currency's quarterly derivatives report released Friday.

The agency attributed the decline from the third quarter to changes in the credit-adjusted values of derivatives payables and receivables, as well as normal seasonal patterns. Client demand tends to weaken as companies prepare to close their books for the year, according to the report.

For 2009, bank trading profits were $22.6 billion — compared with a loss of $836 million in 2008. Last year's results topped the previous high of $18.8 billion in 2006.

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.