Wednesday, July 29, 2009

Big numbers

Fitch: Financial Companies Hold 99.7% Of All Derivative Contracts

The companies in question (Total Notional Derivatives: Assets & Liabilities, $ in Trillions) * JP Morgan:$81.7; * Bank of America:$80.0; * Citigroup:$31.5; * Morgan Stanley:$39.3, and of course * Goldman Sachs: $47.8 (this is an OCC estimate: Goldman has not disclosed notional amounts in their derivative book, only # of contracts)

Posted by devo @ 10:25 AM (860 views)
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2 thoughts on “Big numbers

  • Devo, I know you want me to.

    The key findings are pretty much as one would expect.
    I would be worried if the vast majority of notional was not concentrated with the major dealers, wouldn’t you?!

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  • The report from Fitch states:
    In the table on page 3 [ that is the second table in the Zero Hedge post, ‘Aggregate Notional and Fair Value of Derivatives’ ], the aggregate total net derivative shows a positive of $241 billion. On a global basis, from an economic standpoint, one would expect long and short positions to net to zero. While our sample represents a large proportion of the U.S. public company universe, it excludes other participants in the derivatives market, including municipalities, hedge funds and non-U.S. counterparties. This factor,
    along with valuation differences, could account for the positive net number shown.

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