Chart 1
The Rapid Growth of Derivatives Is Due
Mostly to the Growth of Interest Rate Contracts
(Notional Value of Derivatives Held by Banks, $ Billion)

  Contracts  
Quarter Interest
Rate
Contracts
Equity,
Commodity,
and Other
Contracts
Foreign
Exchange
Contracts
Banks
Holding
Derivatives
4Q02 48,351 1,009 6,076 5.57%
3Q02 45,695 1,082 6,345 6.06%
2Q02 42,695 1,076 6,313 5.77%
1Q02 39,282 991 5,798 5.61%
4Q01 37,963 950 5,845 5.43%
3Q01 42,880 1,136 6,961 5.35%
2Q01 39,631 1,100 7,131 5.44%
1Q01 35,724 1,096 7,180 5.66%
4Q00 32,966 1,080 6,288 5.69%
3Q00 30,881 1,021 6,471 5.98%
2Q00 30,928 1,018 6,611 5.66%
1Q00 29,699 995 6,406 5.32%
4Q99 27,774 843 5,981 5.58%
3Q99 28,237 807 6,976 5.75%
2Q99 25,734 754 6,803 5.87%
1Q99 25,079 740 7,190 5.85%
4Q98 24,792 684 7,762 5.90%
3Q98 23,847 685 8,763 5.98%
2Q98 20,054 605 8,051 5.88%
1Q98 18,363 528 7,746 5.79%
4Q97 17,087 494 7,746 5.71%
3Q97 17,270 452 7,918 5.83%
2Q97 15,802 413 7,591 5.67%
1Q97 14,562 387 7,387 6.00%
4Q96 13,427 367 6,504 6.38%
3Q96 13,257 351 6,777 6.57%
2Q96 12,517 394 6,685 6.67%
1Q96 11,819 378 6,212 6.96%
4Q95 11,095 378 5,692 6.92%
3Q95 11,330 366 6,546 7.24%
2Q95 11,386 344 6,183 7.14%
1Q95 11,127 349 6,517 6.62%
4Q94 9,925 243 5,605 6.56%
3Q94 9,546 261 5,961 6.53%
2Q94 9,048 236 6,038 6.64%
1Q94 8,329 201 5,387 6.68%
4Q93 7,215 179 4,484 6.51%
3Q93 7,008 190 4,791 6.06%
2Q93 6,316 137 4,496 5.84%
1Q93 5,460 119 4,191 5.92%
4Q92 4,873 102 3,789 5.67%
3Q92 5,051 109 4,555 5.80%
2Q92 4,421 105 3,888 5.75%
1Q92 4,182 109 3,799 5.76%
4Q91 3,837 109 3,394 5.48%
3Q91 3,560 91 3,459 5.38%
2Q91 3,248 86 3,577 5.33%
1Q91 3,301 83 3,683 5.21%
4Q90 3,311 82 3,413 5.18%
3Q90 3,308 79 3,620 5.30%
2Q90 2,963 60 3,491 5.17%
1Q90 2,754 51 3,388 5.07%

Source: FDIC Research Information System