US commercial banks' derivatives holdings increased by $4.4 trillion (€3.9 trillion) in the second quarter, to $65.8 trillion, according to figures released by the Office of the Comptroller of the Currency (OCC).

Despite continuing credit concerns and declines in many of the banks' credit ratings, the bias toward over-the-counter (OTC) derivatives remained strong during the period. While exchange-traded contracts accounted for just 12% of all activity, OTC contracts accounted for 88%.