Derivatives held by US commercial banks rose to a record $96.2 trillion (€80.5 trillion) in the second quarter of this year, according to the latest figures from the Office of the Comptroller of the Currency. However, their revenues from trading derivatives fell by $2.5bn.

The Comptroller's quarterly Bank Derivatives Report showed that notional derivatives volumes rose by a modest 5.3% in the three months to June, but by 71% from the year ago period.