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.

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