Phát triển giao dịch tài chính phái sinh tại các ngân hàng thương mại việt nam

Bộ GIO DụC Và ĐàO TạO Trờng đại học kinh tế quốc dân ĐặNG HƯƠNG GIANG PHT TRIểN GIAO DịCH TàI CHíNH PHI SINH TạI CC NGÂN HàNG THƯƠNG MạI VIfiT NAM Hà Nội - 2018 ĐặNG HƯƠNG GIANG PHT TRIểN GIAO DịCH TàI CHíNH PHI SINH TạI CC NGÂN HàNG THƯƠNG MạI VIfiT NAM Chuyấn ngành: TàI CHíNH NGÂN HàNG MÃ số: 62340201 Ngời hớng dẫn khoa học: PGS.TS NGUYễN HữU TàI Hà Nội - 2018 LI CAM ĐOAN Tôi đọc hiểu hành vi vi phạm trung thực học thuật Tôi cam kết danh dự cá nhân luận án tự thực không vi phạm yêu cầu trung thực học thuật Hà Nội, ngày GV hướng dẫn PGS.TS Nguyễn Hữu Tài tháng năm 2018 Nghiên cứu sinh Đặng Hương Giang MỤC LỤC LỜI CAM ĐOAN MỤC LỤC DANH MỤC TỪ VIẾT TẮT DANH MỤC CÁC BẢNG DANH MỤC BIỂU ĐỒ VÀ SƠ ĐỒ DANH MỤC CÁC PHỤ LỤC CHƯƠNG GIỚI THIỆU VỀ NGHIÊN CỨU .1 1.1 Lý chọn đề tài 1.1.1 Sự cần thiết nghiên cứu 1.1.2 Mục tiêu nghiên cứu .2 1.1.3 Đối tượng nghiên cứu phạm vi nghiên cứu 1.2 Tổng quan cơng trình nghiên cứu có liên quan 1.2.1 Các công trình nghiên cứu nước ngồi .3 1.2.2 Các cơng trình nghiên cứu nước 13 1.3 Khoảng trống nghiên cứu 15 1.4 Câu hỏi nghiên cứu 16 1.5 Phương pháp nghiên cứu 16 1.5.1 Phương pháp thu thập liệu 16 1.5.2 Phương pháp phân tích tổng hợp liệu 17 1.6 Đóng góp đề tài 22 1.7 Bố cục luận án .22 CHƯƠNG 2: CƠ SỞ LÝ LUẬN VỀ GIAO DỊCH PHÁI SINH VÀ PHÁT TRIỂN GIAO DỊCH PHÁI SINH TẠI NH THƯƠNG MẠI 23 2.1 Cơ sở lý luận GDPS 23 2.1.1 Lịch sử đời phát triển GDPS 23 2.1.2 Khái niệm GDPS 25 2.1.3 TTTC phái sinh 27 2.1.4 Phân loại giao dịch tài phái sinh 34 2.2 Phát triển GDPS NHTM 47 2.2.1 Khái niệm phát triển GDPS NHTM 47 2.2.2 Chỉ tiêu đánh giá phát triển GDPS NHTM 48 2.3 Kinh nghiệm phát triển GDPS số NHTM nước học cho NHTM Việt Nam 51 2.3.1 Tổng quan thị trường phái sinh giới 51 2.3.2 Kinh nghiệm phát triển giao dịch tài phái sinh số NHTM giới 60 2.3.3 Bài học kinh nghiệm NHTM Việt Nam 68 KẾT LUẬN CHƯƠNG 71 CHƯƠNG 3: THỰC TRẠNG GIAO DỊCH PHÁI SINH TẠI CÁC NH THƯƠNG MẠI VIỆT NAM HIỆN NAY 73 3.1 Một số vấn đề NHTM Việt Nam 73 3.1.1 Khái quát chung NHTM Việt Nam 73 3.1.2 Hoạt động kinh doanh NHTM Việt Nam 75 3.1.3 Kết hoạt động kinh doanh NHTM Việt Nam 77 3.2 Thực trạng phát triển GDPS NHTM Việt Nam 77 3.2.1 Thực trạng GDPS NHTM Việt Nam 77 3.2.2 Lợi nhuận từ GDPS NHTM Việt Nam 94 3.2.3 Mơ hình nhân tố ảnh hưởng đến doanh số GDPS NHTM 99 3.2.4 Đánh giá thực trạng GDPS NHTM Việt Nam 107 KẾT LUẬN CHƯƠNG 112 CHƯƠNG 4: CÁC NHÂN TỐ ẢNH HƯỞNG ĐẾN PHÁT TRIỂN GIAO DỊCH PHÁI SINH TẠI CÁC NGÂN HÀNG THƯƠNG MẠI VIỆT NAM .113 4.1 Mơ hình nhân tố ảnh hưởng đến phát triển GDPS NHTM 113 4.1.1 Một số nghiên cứu nhân tố ảnh hưởng đến phát triển GDPS NHTM 113 4.1.2 Mơ hình nghiên cứu giả thuyết nghiên cứu 117 4.1.3 Thiết kế bảng câu hỏi thức .122 4.1.4 Thu thập thông tin 127 4.2 Kết nghiên cứu mơ hình nhân tố ảnh hưởng đến phát triển GDPS NHTM Việt Nam 129 4.2.1 Kết từ kiểm định giả thuyết thống kê 129 4.2.2 Phân tích nhân tố ảnh hưởng đến phát triển GDPS NHTM Việt Nam 129 4.2.3 Xây dựng mơ hình nghiên cứu .132 4.2.4 Mối tương quan biến 133 4.2.5 Lựa chọn biến mơ hình hồi quy đa biến 134 4.2.6 Đánh giá mức độ phù hợp mơ hình hồi quy tuyến tính đa biến 135 4.2.7 Kiểm định độ phù hợp mơ hình .136 4.2.8 Kết phân tích hồi quy đa biến đánh giá mức độ quan trọng nhân tố 137 KẾT LUẬN CHƯƠNG 139 CHƯƠNG 5: MỘT SỐ GIẢI PHÁP NHẰM PHÁT TRIỂN GIAO DỊCH PHÁI SINH TẠI CÁC NH THƯƠNG MẠI VIỆT NAM 140 5.1 Điều kiện phát triển giao dịch tài phái sinh NHTM Việt Nam 140 5.1.1 Điều kiện vĩ mô 140 5.1.2 Điều kiện từ phía NH 142 5.1.3 Điều kiện từ phía KH 144 5.2 Một số giải pháp nhằm phát triển GDPS NHTM Việt Nam 144 5.2.1 Đối với Chính phủ 144 5.2.2 Đối với NHNN 145 5.2.3 Đối với NHTM 150 KẾT LUẬN CHƯƠNG 152 KẾT LUẬN .153 DANH MỤC CÁC CƠNG TRÌNH CƠNG BỐ CỦA TÁC GIẢ 155 DANH MỤC TÀI LIỆU THAM KHẢO 156 PHỤ LỤC DANH MỤC TỪ VIẾT TẮT STT Viết tắt Nội dung CCPS Công cụ phái sinh DN Doanh nghiệp GDPS Giao dịch phái sinh GDKH Giao dịch kỳ hạn GDTL Giao dịch tương lai HĐHĐ Hợp đồng hoán đổi HĐKH Hợp đồng kỳ hạn HĐQC Hợp đồng quyền chọn HĐTL Hợp đồng tương lai 10 KH Khách hàng 11 NH Ngân hàng 12 NHTM Ngân hàng thươg mại 13 NHNN Ngân hàng nhà nước 14 NVPS Nghiệp vụ phái sinh 15 SPPS Sản phẩm phái sinh 16 SGD Sở giao dịch 17 TCTD Tổ chức tín dụng 18 TTTC Thị trường tài DANH MỤC CÁC BẢNG Bảng 2.1: Công thức định giá GDKH 35 Bảng 2.2: So sánh GDKH GDTL 41 Bảng 2.3: Chuẩn hóa GDTL ngoại hối thị trường Chicago (Mỹ) 41 Bảng 2.4: Thông tin niêm yết thị trường tương lai 42 Bảng 3.5: Giá trị hợp đồng giá trị thị trường thị trường phái sinh phi tập trung giới 52 Bảng 2.6: Khối lượng GDPS thị trường tương lai giới 54 Bảng 2.7: Khối lượng GDPS thị trường quyền chọn giới 55 Bảng 2.8: Doanh số SPPS NHTM giới (theo loại hợp đồng) 57 Bảng 2.9: Doanh số SPPS NHTM giới (theo loại tài sản sở) 58 Bảng 2.10: Doanh số GDPS NHTM thị trường phái sinh giới 59 Bảng 2.11: Top 25 NHTM, tổ chức tiết kiệm công ty thị trường phái sinh Mỹ quý 2/2016.63 Bảng 3.1: Các tiêu NHTM Việt Nam .73 Bảng 3.2: Tổng tài sản, vốn chủ sở hữu, lợi nhuận sau thuế số NHTM Việt Nam 74 Bảng 3.3: Bảng tiêu tốn, huy động vốn tín dụng NHTM Việt Nam 75 Bảng 3.4: Huy động vốn dư nợ tín dụng số NHTM Việt Nam .76 Bảng 3.5: Tỷ lệ sinh lời NHTM Việt Nam 77 Bảng 3.6: Giá trị hợp đồng giá trị ghi sổ GDPS NHTM Việt Nam .78 Bảng 3.7: Tổng hợp tỷ giá kì hạn theo quy định NHNN 79 Bảng 3.8: Tỷ giá kỳ hạn giao NHTM Việt Nam thời điểm thực GDKH 80 Bảng 3.9: Tỷ trọng GDKH VinaForex 83 Bảng 3.10: Giá trị hợp đồng GDKH NHTM Việt Nam .84 Bảng 3.11: Giá trị hợp đồng GDKH NHTM Việt Nam qua năm 85 Bảng 3.12: Giá trị hợp đồng GDHĐ NHTM Việt Nam .87 Bảng 3.13: Biểu phí GDHĐ NHNN 88 Bảng 3.14: Giá trị hợp đồng GDHĐ NHTM Việt Nam .90 Bảng 3.15: Doanh số quyền chọn tiền tệ ACB 92 Bảng 3.16: Thu từ GDPS NHTM Việt Nam 94 Bảng 3.17: Chi phí GDPS NHTM Việt Nam 95 Bảng 3.18: Lợi nhuận từ GDPS NHTM Việt Nam .97 Bảng 3.19: Tỷ trọng lợi nhuận từ GDPS tổng lợi nhuận NHTM Việt Nam 98 Bảng 3.20: Tổng hợp nhân tố ảnh hưởng tới doanh số GDPS NHTM 99 Bảng 3.21: Danh sách biến sử dụng mơ hình nghiên cứu 102 Bảng 3.22: Ma trận tương quan biến độc lập 104 Bảng 3.23: Bảng hệ số phóng đại phương sai .105 Bảng 3.24: Kết kiểm định mơ hình hồi quy tuyết tính bội .105 Bảng 4.1.Tổng hợp nhân tố ảnh hưởng tới phát triển GDPS NHTM 114 Bảng 4.2: Thống kê bảng câu hỏi khảo sát 127 Bảng 4.3: Thống kê mẫu đặc điểm đối tượng tham gia khảo sát 128 Bảng 4.4: Phân tích liệu thống kê tình hình phát triển GDPS NHTM Bảng 4.5: Phân tích độ tin cậy thang đo 129 Bảng 4.6: Kết kiểm định KMO Bartlett’s Test (Phân tích khám phá nhân tố cho biến độc lập) 130 Bảng 4.7: Kết kiểm định KMO Bartlett’s Test (Phân tích khám phá nhân tố cho biến phụ thuộc) .131 Bảng 4.8: Kết phân tích rút trích nhân tố Biến phụ thuộc 132 Bảng 4.9: Ma trận xoay nhân tố biến phụ thuộc 132 Bảng 4.10 Ma trận hệ số tương quan 133 Bảng 4.11: Kết thủ tục lựa chọn biến theo phương pháp chọn biến .134 Bảng 4.12: Kết đánh giá mức độ phù hợp mơ hình 135 Bảng 4.13: Bảng ANOVA-Kết kiểm định độ phù hợp mơ hình ANOVAa 136 Bảng 4.14 Kết phân tích hồi quy đa biến .137 129 DANH MỤC BIỂU ĐỒ VÀ SƠ ĐỒ BIỂU ĐỒ Biểu đồ 2.1: Doanh số SPPS NHTM giới .56 Biểu đồ 2.2: Doanh số SPPS NHTM giới .59 Biểu đồ 2.3: Doanh số GDPS NHTM thị trường phái sinh giới 60 Biểu đồ 3.1: Giá trị hợp đồng GDKH NHTM .84 Biểu đồ 3.2: Giá trị hợp đồng GDHĐ NHTM 90 Biểu đồ 3.3: Thu nhập GDPS NHTM Việt Nam 96 Biểu đồ 3.4: Chi phí GDPS NHTM Việt Nam 96 Biểu đồ 3.5: Lợi nhuận GDPS NHTM Việt Nam 97 SƠ ĐỒ Sơ đồ 2.1: Chủ thể tham gia mục đích tham gia GDPS .33 Sơ đồ 2.2: Lợi nhuận đơn vị tiền tệ giao dịch GDKH .35 Sơ đồ 2.3: Đồ thị thu nhập, chi phí trường hợp khơng bảo hiểm rủi ro tỷ giá có bảo hiểm rủi ro tỷ giá khoản phải thu, phải trả 38 Sơ đồ 2.4: Đồ thị biểu diễn gốc lãi nhà đầu tư trường hợp khơng bảo hiểm rủi ro tỷ giá có bảo hiểm rủi ro tỷ giá 38 Sơ đồ 2.5: Đồ thị biểu diễn lợi nhuận mua quyền chọn mua bán quyền chọn mua 46 Sơ đồ 2.6: Đồ thị biểu diễn lợi nhuận mua quyền chọn bán bán quyền chọn bán 46 Sơ đồ 3.1: Mơ hình nhân tố tác động đến doanh số GDPS NHTM Việt Nam 100 Phụ lục 7: Phân tích liệu thống kê nhân tố ảnh hưởng đến phát triển GDPS NHTM VN Descriptive Statistics N Minimum Maximum Mean Std Deviation CS1 220 4.20 736 CS2 220 4.26 691 CS3 220 4.21 772 CS4 220 4.19 757 CS5 220 4.27 797 CS6 220 4.22 788 CS7 220 4.15 796 CS8 220 4.20 688 CS9 220 4.33 736 MTKT1 220 4.32 701 MTKT2 220 4.35 690 MTKT3 220 4.25 659 MTKT4 220 4.35 716 MTKT5 220 4.30 742 MTKT6 220 4.38 734 MTKT7 220 4.41 707 KH1 220 4.33 644 KH2 220 4.35 709 KH3 220 4.30 747 KH4 220 4.37 666 DTCT1 220 4.17 617 DTCT2 220 4.35 677 DTCT3 220 4.35 675 CQ1 220 3.75 1.391 CQ2 220 4.36 629 CQ3 220 4.26 705 CQ4 220 4.29 713 CQ5 220 4.38 641 CQ6 220 4.40 755 CQ7 220 4.38 647 CQ8 220 4.48 623 CQ9 220 4.39 606 CQ10 220 4.45 575 (Nguồn: Số liệu điều tra thống kê) Com pone nt 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 Phụ lục 8: Kết phân tích rút trích nhân tố Total Variance Explained Initial Eigenvalues Extraction Sums of Squared Rotation Sums of Squared Loadings Loadings Total % of Cumula Total % of Cumulat Total % of Cumula Variance tive % Variance ive % Variance tive % 10.888 34.025 34.025 10.888 34.025 34.025 5.128 16.026 16.026 2.830 8.845 42.870 2.830 8.845 42.870 3.157 9.865 25.891 1.760 5.499 48.369 1.760 5.499 48.369 3.074 9.605 35.496 1.546 4.830 53.199 1.546 4.830 53.199 2.659 8.311 43.807 1.366 4.268 57.467 1.366 4.268 57.467 2.391 7.471 51.278 1.314 4.106 61.573 1.314 4.106 61.573 2.274 7.108 58.386 1.151 3.598 65.171 1.151 3.598 65.171 2.171 6.785 65.171 983 3.072 68.243 913 2.854 71.098 879 2.747 73.845 779 2.434 76.279 731 2.286 78.564 687 2.148 80.712 657 2.053 82.765 563 1.760 84.525 498 1.555 86.081 482 1.507 87.587 465 1.452 89.040 409 1.279 90.319 387 1.209 91.528 349 1.090 92.618 337 1.053 93.671 294 920 94.590 272 849 95.439 256 800 96.239 245 767 97.006 217 678 97.684 205 640 98.324 177 554 98.878 141 441 99.319 119 373 99.691 099 309 100.000 Extraction Method: Principal Component Analysis CS3 CS4 CS7 CS5 CS8 CS6 CS9 CS1 CQ4 CQ6 CQ2 CQ3 CQ5 MTKT6 CQ7 MTKT7 MTKT2 MTKT4 KH2 KH3 KH4 KH1 MTKT1 MTKT3 MTKT5 CS2 CQ9 CQ10 CQ8 DTCT1 DTCT3 DTCT2 795 780 750 729 721 692 643 618 Phụ lục 9: Bảng ma trận xoay nhân tố Rotated Component Matrixa Component 750 736 731 588 536 680 631 528 738 734 669 629 Extraction Method: Principal Component Analysis Rotation Method: Varimax with Kaiser Normalization a Rotation converged in iterations .827 741 632 826 669 618 681 624 618 Phụ lục 10: Kết phân tích mơ hình hồi quy tuyến tính đa biến Coefficientsa Model (Mơ hình hồi quy theo bước) (Constant) Beta Std Error Standardized Coefficients t Sig Beta Collinearity Statistics Tolerance VIF 1.189 176 6.754 000 MTKTA 745 040 784 18.661 000 (Constant) 550 170 3.230 001 MTKTA 572 040 602 14.237 000 744 1.344 CS 330 039 359 8.484 000 744 1.344 (Constant) 297 177 1.681 094 MTKTA 494 044 520 11.322 000 592 1.690 CS 301 038 327 7.844 000 717 1.396 DTCT 168 042 174 3.982 000 653 1.532 (Constant) 160 178 901 368 MTKTA 445 045 468 9.832 000 526 1.900 CS 288 038 313 7.633 000 709 1.411 DTCT 142 042 147 3.378 001 629 1.589 MTKTB 120 037 137 3.257 001 672 1.489 -.070 195 -.362 718 MTKTA 400 048 421 8.403 000 462 2.163 CS 272 038 297 7.249 000 693 1.444 DTCT 115 043 119 2.689 008 594 1.683 MTKTB 117 036 134 3.222 001 671 1.491 CQB 141 052 122 2.719 007 573 1.745 (Constant) Unstandardized Coefficients a Dependent Variable: PTGDPS 1.000 1.000 Phụ lục 11: Top 25 NHTM Mỹ thị trường phái sinh TOP 25 COMMERCIAL BANKS, SAVINGS ASSOCIATIONS AND TRUST COMPANIES IN DERIVATIVES DECEMBER 31, 2013, $ MILLIONS RANK BANK NAME STATE 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 JPMORGAN CHASE BANK NA CITIBANK NATIONAL ASSN GOLDMAN SACHS BANK USA BANK OF AMERICA NA HSBC BANK USA NATIONAL ASSN WELLS FARGO BANK NA MORGAN STANLEY BANK NA BANK OF NEW YORK MELLON STATE STREET BANK&TRUST CO PNC BANK NATIONAL ASSN NORTHERN TRUST CO SUNTRUST BANK TD BANK NATIONAL ASSN U S BANK NATIONAL ASSN REGIONS BANK KEYBANK NATIONAL ASSN UNION BANK NATIONAL ASSN BRANCH BANKING&TRUST CO FIFTH THIRD BANK CAPITAL ONE NATIONAL ASSN RBS CITIZENS NATIONAL ASSN BOKF NATIONAL ASSN HUNTINGTON NATIONAL BANK COMERICA BANK MANUFACTURERS&TRADERS TR CO OH SD NY NC VA SD UT NY MA DE IL GA DE OH AL OH CA NC OH VA RI OK OH TX NY TOP 25 COMMERCIAL BANKS, SAs & TCs WITH DERIVATIVES OTHER COMMERCIAL BANKS, SAs & TCs WITH DERIVATIVES TOTAL COMMERCIAL BANKS, SAs & TCs WITH DERIVATIVES TOTA L ASSET S $1,945,467 1,346,747 105,616 1,433,716 179,772 1,373,600 102,602 296,626 239,051 310,000 102,659 171,262 217,626 360,478 116,609 90,440 105,286 179,126 128,186 238,483 94,717 26,795 59,305 65,202 84,347 $9,373,717 TOTAL CREDI T DERIVATIVE S (OTC) $5,389,227 2,573,601 265,276 2,589,004 367,417 46,670 3,589 101 141 4,872 3,575 567 3,961 1,038 910 150 1,438 1,084 1,072 840 872 L DERIVATIVE S $70,088,625 62,247,698 48,611,684 38,850,900 5,404,721 4,856,295 2,644,807 1,199,069 1,133,281 387,294 233,523 225,957 139,269 107,516 76,964 64,743 63,772 63,354 62,883 39,082 36,733 28,576 27,621 21,494 21,408 TOTA L FUTURES (EXCH TR) $1,261,949 659,311 891,142 2,081,877 85,337 144,714 71,399 23,121 3,282 54,198 19,127 255 2,611 6,423 5,110 74 929 0 581 0 TOTA L OPTIONS (EXCH TR) $1,360,844 753,010 968,241 123,605 122,136 93,772 85,197 6,734 69,700 12,113 3,350 0 0 0 551 0 TOTA L FORWARD S (OTC) $13,532,965 8,372,554 3,680,899 6,842,601 716,080 1,282,836 421,803 334,474 1,095,392 19,372 217,070 10,286 18,718 38,102 11,579 7,284 3,327 7,091 9,297 759 7,591 22,514 2,720 1,593 2,716 TOTA L SWAP S (OTC) $39,282,217 40,604,400 36,074,902 24,751,362 3,862,985 2,801,015 1,476,196 650,547 6,418 221,424 16,392 130,085 119,414 53,288 58,433 43,157 43,156 46,157 36,878 37,203 25,639 3,199 23,705 15,623 16,515 TOTA L OPTION S (OTC) $9,261,423 9,284,822 6,731,224 2,462,451 250,765 487,288 586,623 184,092 28,048 17,727 61 50,771 569 8,561 3,303 6,969 12,028 10,032 14,341 36 2,430 1,732 353 3,406 2,177 $236,637,271 $5,311,443 $3,599,253 $36,659,625 $29,411,232 47,141 1,974 699 29,458,373 11,257,379 1,079,479 TOTA 3,683,344 385,792 17,026 618 66,086 $150,400,31 252,947 13,057,060 237,023,063 5,328,469 3,599,871 36,725,711 150,653,259 SPO T FX $61,085 564,583 3,361 252,652 52,193 6,044 35,817 46,986 30,059 574 22,078 199 1,493 14 255 667 18 236 31 30 216 177 $11,255,405 $1,078,780 Note: Credit derivatives have been included in the sum of total derivatives Credit derivatives have been included as an "over the counter" category, although the Call Report does not differentiate by market currently Note: Before the first quarter of 1995 total derivatives included spot foreign exchange Beginning in the first quarter, 1995, spot foreign exchange was reported separately Note: Numbers may not add due to rounding Data source: Call Reports, schedule RC-L TOP 25 COMMERCIAL BANKS, SAVINGS ASSOCIATIONS AND TRUST COMPANIES IN DERIVATIVES MARCH 31, 2014, $ MILLIONS TOTA RANK BANK NAME STATE 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 JPMORGAN CHASE BANK NA CITIBANK NATIONAL ASSN GOLDMAN SACHS BANK USA BANK OF AMERICA NA HSBC BANK USA NATIONAL ASSN WELLS FARGO BANK NA MORGAN STANLEY BANK NA STATE STREET BANK&TRUST CO BANK OF NEW YORK MELLON PNC BANK NATIONAL ASSN NORTHERN TRUST CO SUNTRUST BANK TD BANK NATIONAL ASSN U S BANK NATIONAL ASSN REGIONS BANK BRANCH BANKING&TRUST CO UNION BANK NATIONAL ASSN FIFTH THIRD BANK KEYBANK NATIONAL ASSN CAPITAL ONE NATIONAL ASSN RBS CITIZENS NATIONAL ASSN BOKF NATIONAL ASSN HUNTINGTON NATIONAL BANK COMERICA BANK MANUFACTURERS&TRADERS TR CO OH SD NY NC VA SD UT MA NY DE IL GA DE OH AL NC CA OH OH VA RI OK OH TX NY TOP 25 COMMERCIAL BANKS, SAs & TCs WITH DERIVATIVES OTHER COMMERCIAL BANKS, SAs & TCs WITH DERIVATIVES TOTAL COMMERCIAL BANKS, SAs & TCs WITH DERIVATIVES L FUTURES (EXCH TR) $1,155,066 711,703 1,156,682 1,889,030 99,170 129,081 135,188 3,745 33,080 46,418 19,222 1,387 2,838 116 4,701 898 6,345 0 559 0 TOTA L OPTIONS (EXCH TR) $1,586,905 916,495 1,096,166 75,461 22,090 101,040 113,993 7,136 66,300 12,353 4,450 0 0 0 491 0 TOTA L FORWARD S (OTC) $14,960,852 8,864,541 4,417,423 6,329,656 726,235 1,294,167 421,441 1,184,603 364,826 19,138 215,447 12,353 17,787 35,603 7,388 8,591 3,071 9,444 6,820 957 7,969 23,076 3,029 1,760 2,449 TOTA L SWAP S (OTC) $34,821,422 36,022,823 36,221,840 22,500,695 3,826,961 2,891,653 1,374,584 6,387 618,256 225,489 18,610 123,102 118,556 55,692 58,363 50,957 47,781 37,488 42,118 39,514 25,248 3,274 24,493 15,627 16,309 $230,221,224 $5,395,234 $4,002,881 $38,938,628 411,323 16,318 889 74,086 $139,187,24 $31,481,733 263,876 53,073 230,632,546 5,411,552 4,003,770 39,012,714 TOTA L ASSET S $1,970,450 1,353,237 104,767 1,457,856 179,598 1,388,274 108,837 252,493 288,176 313,362 103,499 175,464 220,863 367,103 117,079 180,652 106,696 127,331 88,165 236,546 96,042 27,160 60,962 65,687 87,754 TOTA L DERIVATIVE S $67,636,992 59,940,518 49,649,845 35,927,953 5,350,922 4,966,322 2,724,056 1,222,026 1,204,309 381,383 234,116 221,667 137,480 110,258 73,055 68,026 67,153 63,937 62,803 41,622 36,436 29,020 28,918 21,417 20,988 $9,478,054 3,744,730 13,222,784 139,451,119 TOTA L OPTION S (OTC) $9,767,425 10,833,607 6,493,875 2,517,431 339,709 510,979 676,030 27,149 180,960 19,114 59 51,319 561 9,230 3,367 8,363 11,506 14,699 6,607 36 2,149 1,619 498 3,209 2,231 31,534,805 TOTAL CREDI T DERIVATIVE S (OTC) $5,345,322 2,591,349 263,859 2,615,680 336,756 39,402 2,820 141 51 4,923 3,317 575 3,896 1,100 95 1,407 913 1,114 1,070 892 822 SPO T FX $566,393 1,479,780 3,840 483,921 77,797 11,261 62,767 48,448 64,951 1,295 18,481 364 14 1,330 59 736 276 667 89 16 397 98 $11,215,505 $2,822,992 3,081 1,881 11,218,586 2,824,873 Note: Credit derivatives have been included in the sum of total derivatives Credit derivatives have been included as an "over the counter" category, although the Call Report does not differentiate by market currently Note: Before the first quarter of 1995 total derivatives included spot foreign exchange Beginning in the first quarter, 1995, spot foreign exchange was reported separately Note: Numbers may not add due to rounding Data source: Call Reports, schedule RC-L TOTAL TOTA TOTA TOTA TOTA TOTA CREDI L L L L L TOTA TOTA SPO T FUTURE OPTION FORWARD SWAP OPTION RANK BANK NAME STATE DERIVATIVE L L T S S S S S S ASSET DERIVATIVE FX (EXCH TR) (EXCH TR) (OTC) (OTC) (OTC) (OTC) S S JPMORGAN CHASE BANK NA OH $2,002,047 $68,148,174 $1,244,118 $1,732,643 $14,962,805 $35,198,962 $9,908,270 $5,101,376 $558,512 CITIBANK NATIONAL ASSN SD 1,367,845 61,076,216 710,842 728,653 6,973,348 40,946,275 9,114,504 2,602,594 1,065,120 GOLDMAN SACHS BANK USA NY 109,532 53,016,098 1,455,084 1,295,943 5,019,991 38,431,846 6,573,316 239,918 5,879 BANK OF AMERICA NA NC 1,454,742 36,784,630 2,097,352 129,034 8,078,237 21,520,008 2,440,022 2,519,977 485,502 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 HSBC BANK USA NATIONAL ASSN WELLS FARGO BANK NA MORGAN STANLEY BANK NA BANK OF NEW YORK MELLON STATE STREET BANK&TRUST CO PNC BANK NATIONAL ASSN NORTHERN TRUST CO SUNTRUST BANK TD BANK NATIONAL ASSN U S BANK NATIONAL ASSN UNION BANK NATIONAL ASSN REGIONS BANK BRANCH BANKING&TRUST CO KEYBANK NATIONAL ASSN FIFTH THIRD BANK CAPITAL ONE NATIONAL ASSN BOKF NATIONAL ASSN CITIZENS BANK NATIONAL ASSN HUNTINGTON NATIONAL BANK COMERICA BANK MANUFACTURERS&TRADERS TR CO TOP 25 COMMERCIAL BANKS, SAs & TCs WITH DERIVATIVES OTHER COMMERCIAL BANKS, SAs & TCs WITH DERIVATIVES TOTAL COMMERCIAL BANKS, SAs & TCs WITH DERIVATIVES TOP 25 COMMERCIAL BANKS, SAVINGS ASSOCIATIONS AND TRUST COMPANIES IN DERIVATIVES MARCH 31, 2014, $ MILLIONS VA 174,566 5,378,145 76,409 26,208 714,571 SD 1,436,828 5,069,564 126,438 110,014 1,029,622 UT 110,651 2,607,094 87,913 93,201 427,895 NY 319,318 1,304,864 53,761 5,917 453,990 MA 277,883 1,246,113 4,062 1,207,366 DE 316,652 441,701 47,640 118,625 21,079 IL 105,409 246,288 0 227,161 GA 178,361 218,194 19,546 11,494 12,770 DE 219,657 158,200 0 16,873 OH 384,194 120,117 2,694 3,120 40,266 CA 108,229 70,599 4,072 3,295 AL 117,957 68,294 3,594 3,333 NC 183,627 66,454 582 10,945 OH 89,011 64,452 7,773 8,164 OH 130,186 62,233 953 8,322 VA 239,590 45,020 0 1,765 OK 27,614 36,349 451 377 30,488 RI 100,642 35,354 0 8,499 OH 63,670 28,775 2,060 TX 65,243 22,787 0 2,001 NY 90,062 22,138 0 2,882 $9,673,518 $236,337,854 $5,943,287 $4,255,229 $39,267,728 3,831,924 443,364 14,924 965 86,446 13,505,442 236,781,217 5,958,212 4,256,194 39,354,174 3,910,233 3,252,572 1,376,986 617,167 6,066 228,379 19,073 117,862 140,084 60,464 51,391 56,913 45,656 42,057 39,447 42,102 3,144 24,206 25,141 16,336 17,129 347,158 513,014 618,393 174,009 28,456 20,601 54 53,245 670 9,623 11,831 3,314 9,272 5,797 12,026 35 1,889 1,576 639 3,668 2,127 $146,189,49 $29,853,508 278,070 59,881 146,467,569 29,913,389 303,566 37,904 2,706 20 163 5,377 3,277 574 3,950 10 1,141 661 1,485 1,117 1,073 931 782 59,786 9,507 72,847 73,366 53,445 877 26,280 170 11 781 494 20 388 419 38 244 312 82 $10,828,602 $2,414,091 3,077 1,928 10,831,679 2,416,020 Note: Credit derivatives have been included in the sum of total derivatives Credit derivatives have been included as an "over the counter" category, although the Call Report does not differentiate by market currently Note: Before the first quarter of 1995 total derivatives included spot foreign exchange Beginning in the first quarter, 1995, spot foreign exchange was reported separately Note: Numbers may not add due to rounding Data source: call reports, schedule RC-L TOP 25 COMMERCIAL BANKS, SAVINGS ASSOCIATIONS AND TRUST COMPANIES IN DERIVATIVES SEPTEMBER 30, 2014, $ MILLIONS TOTA L RANK BANK NAME STATE TOTA L ASSET S TOTA L DERIVATIVE S TOTAL FUTURES (EXCH TR) TOTA L ( OPTION S EXCH TR) TOTA L FORWARD S (OTC) TOTA L SWAP S (OTC) TOTA L OPTION S (OTC) SPO CREDI T T FX DERIVATIVE S (OTC) $2,735,372 $1,787,021 4,659,562 848,109 228,191 14,458 2,372,633 605,902 34,255 10,155 350,263 79,880 2,863 79,999 81,793 191 55,644 5,615 1,059 23,811 3,946 236 572 12 3,951 1,601 1,140 122 10 477 44 1,693 452 623 739 1,193 1,326 213 38 985 951 311 754 230 $10,406,088 $3,592,316 CITIBANK NATIONAL ASSN SD $1,377,620 $70,254,978 $887,546 $1,052,013 $6,841,018 $49,015,132 $9,723,897 JPMORGAN CHASE BANK NA OH 2,008,808 65,307,835 1,362,401 1,768,751 13,827,376 33,880,080 9,809,665 GOLDMAN SACHS BANK USA NY 111,758 48,694,949 1,498,075 1,575,722 4,556,717 34,295,054 6,541,190 BANK OF AMERICA NA NC 1,524,575 37,505,160 1,893,022 164,571 9,276,913 21,156,305 2,641,716 WELLS FARGO BANK NA SD 1,482,815 5,145,161 225,389 144,324 810,830 3,407,970 522,393 HSBC BANK USA NATIONAL ASSN VA 168,428 4,993,889 131,370 35,970 811,733 3,276,861 387,691 MORGAN STANLEY BANK NA UT 116,771 2,710,172 113,452 58,806 429,820 1,419,682 685,549 BANK OF NEW YORK MELLON NY 304,867 1,346,498 58,723 3,805 481,584 634,298 168,088 STATE STREET BANK&TRUST CO MA 270,372 1,294,407 6,408 1,252,287 5,876 29,645 10 PNC BANK NATIONAL ASSN DE 324,117 346,349 45,724 18,625 21,525 234,016 20,844 11 NORTHERN TRUST CO IL 110,796 258,872 0 240,762 17,675 434 12 SUNTRUST BANK GA 182,555 226,926 20,549 13,709 10,817 120,802 57,104 13 TD BANK NATIONAL ASSN DE 224,996 155,641 0 16,069 138,376 624 14 U S BANK NATIONAL ASSN OH 387,034 126,119 3,074 3,150 41,628 63,253 11,063 15 REGIONS BANK AL 118,290 82,159 2,760 16,310 58,515 3,434 16 MUFG UNION BANK NA CA 110,320 71,155 3,708 3,739 53,001 10,696 17 BRANCH BANKING&TRUST CO NC 182,901 68,392 1,393 8,081 51,076 7,842 18 FIFTH THIRD BANK OH 131,826 63,038 567 8,756 40,961 11,061 19 KEYBANK NATIONAL ASSN OH 87,398 59,966 7,712 039 39,726 5,867 20 CAPITAL ONE NATIONAL ASSN VA 247,492 50,794 0 ,306 48,273 22 21 CITIZENS BANK NATIONAL ASSN RI 101,843 35,889 0 ,522 24,036 2,005 22 BOKF NATIONAL ASSN OK 28,881 33,417 399 298 8,155 2,794 1,771 23 HUNTINGTON NATIONAL BANK OH 64,107 28,702 2,000 25,109 602 24 BMO HARRIS BANK NA IL 98,481 26,548 0 ,478 19,775 1,345 25 COMERICA BANK TX 68,803 22,820 0 ,934 16,586 3,546 TOP 25 COMMERCIAL BANKS, SAs & TCs WITH $9,835,856 $238,909,83 $6,262,277 $4,839,743 $38,708,399 $148,045,234 $30,648,09 DERIVATIVES OTHER COMMERCIAL BANKS, SAs & TCs WITH 3,873,767 437,492 12,825 837 75,145 283,412 62,990 2,284 627 DERIVATIVES TOTAL COMMERCIAL BANKS, SAs & TCs WITH 13,709,623 239,347,327 6,275,102 4,840,581 38,783,544 148,328,645 30,711,083 10,408,372 3,592,944 DERIVATIVES Note: Credit derivatives have been included in the sum of total derivatives Credit derivatives have been included as an "over the counter" category, although the Call Report does not differentiate by market currently Note: Before the first quarter of 1995 total derivatives included spot foreign exchange Beginning in the first quarter, 1995, spot foreign exchange was reported separately Note: Numbers may not add due to rounding Data source: call reports, schedule RC-L TOP 25 COMMERCIAL BANKS, SAVINGS ASSOCIATIONS AND TRUST COMPANIES IN DERIVATIVES DECEMBER 31, 2014, $ MILLIONS TOTA RANK BANK NAME STATE L TOTAL TOTAL DERIVATIVES ASSET TOTAL TOTAL OPTIONS CREDIT FUTURES DERIVATIVES (EXCH TR) S JPMORGAN CHASE BANK NA CITIBANK NATIONAL ASSN GOLDMAN SACHS BANK USA OH SD NY 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 BANK OF AMERICA NA WELLS FARGO BANK NA HSBC BANK USA NATIONAL ASSN MORGAN STANLEY BANK NA BANK OF NEW YORK MELLON STATE STREET BANK&TRUST CO PNC BANK NATIONAL ASSN NORTHERN TRUST CO SUNTRUST BANK TD BANK NATIONAL ASSN U S BANK NATIONAL ASSN REGIONS BANK MUFG UNION BANK NA BRANCH BANKING&TRUST CO KEYBANK NATIONAL ASSN FIFTH THIRD BANK CAPITAL ONE NATIONAL ASSN CITIZENS BANK NATIONAL ASSN BOKF NATIONAL ASSN HUNTINGTON NATIONAL BANK BMO HARRIS BANK NA COMPASS BANK NC SD VA UT NY MA DE IL GA DE OH AL CA NC OH OH VA RI OK OH IL AL $2,074,952 1,356,781 118,214 1,574,093 1,532,784 178,677 125,528 304,166 269,781 335,060 109,597 185,910 230,280 398,978 118,801 113,120 182,489 91,783 136,279 255,011 102,971 28,954 66,111 97,497 79,625 $63,683,309 56,295,836 46,778,625 $1,232,742 850,855 1,442,576 36,726,319 5,368,592 4,773,081 2,133,187 1,237,052 1,231,634 345,934 253,411 232,636 172,432 136,168 82,553 71,249 66,483 61,946 61,487 54,686 39,919 32,592 29,892 26,261 25,143 2,149,591 227,381 62,313 23,215 54,411 3,937 45,167 18,279 2,448 2,560 2,691 756 9,673 622 0 272 107 TOTA L FORWARD S (EXCH TR) $1,537,820 $13,418,791 $33,773,030 581,239 6,475,070 36,968,183 1,191,05 4,572,708 33,472,983 184,995 8,761,789 20,988,564 130,640 658,156 3,823,021 33,350 716,751 3,319,822 10,878 499,942 927,150 2,418 445,721 605,670 1,193,190 5,724 12,225 18,443 239,559 236,761 15,959 15,279 11,390 124,478 15,102 156,135 4,000 49,816 64,044 16,303 58,358 3,509 53,520 10,120 45,686 5,965 40,312 7,728 40,058 1,473 51,995 8,842 26,925 197 27,938 2,656 2,174 25,502 3,586 20,299 1,409 1,216 20,172 TOTA L SWAP S (OTC) (OTC) $9,473,687 8,934,333 5,873,409 2,455,819 498,771 397,983 667,169 128,832 28,593 25,307 691 58,279 626 11,931 4,182 11,519 9,922 5,483 11,589 15 2,783 1,530 1,091 967342 3,413 TOTA SPOT FX L OPTION S (OTC) (OTC) $4,247,239 $63,207 2,486,156 895,342 225,898 3,174 2,185,561 30,623 242,862 4,833 191 5,234 4,931 569 3,929 1,150 10 512 1,490 1,204 1,369 1,0180 0 397,303 5,002 58,700 26,187 52,582 38,404 793 17,393 100 1,471 14 429 32 826 282 48 31 348 75 TOP 25 COMMERCIAL BANKS, SAs & TCs WITH $10,067,442 $219,920,427 $6,129,936 $3,704,091 $37,162,483 $134,869,806 $28,608,365 $9,445,746 $1,561,753 DERIVATIVES OTHER COMMERCIAL BANKS, SAs & TCs WITH 3,851,099 439,347 9,822 955 66,140 297,955 61,144 3,332 918 DERIVATIVES TOTAL COMMERCIAL BANKS, SAs & TCs WITH 13,918,541 220,359,775 6,139,757 3,705,047 37,228,623 135,167,761 28,669,510 9,449,078 1,562,672 DERIVATIVES Note: Credit derivatives have been included in the sum of total derivatives Credit derivatives have been included as an "over the counter" category, although the Call Report does not differentiate by market currently Note: Before the first quarter of 1995 total derivatives included spot foreign exchange Beginning in the first quarter, 1995, spot foreign exchange was reported separately TOP 25 COMMERCIAL BANKS, SAVINGS ASSOCIATIONS AND TRUST COMPANIES IN DERIVATIVES MARCH 31, 2015, $ MILLIONS RANK BANK NAME STATE TOTA L ASSET S JPMORGAN CHASE BANK NA OH CITIBANK NATIONAL ASSN SD $2,096,114 1,335,871 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 GOLDMAN SACHS BANK USA BANK OF AMERICA NA WELLS FARGO BANK NA HSBC BANK USA NATIONAL ASSN MORGAN STANLEY BANK NA STATE STREET BANK&TRUST CO BANK OF NEW YORK MELLON PNC BANK NATIONAL ASSN NORTHERN TRUST CO SUNTRUST BANK TD BANK NATIONAL ASSN U S BANK NATIONAL ASSN REGIONS BANK MUFG UNION BANK NA BRANCH BANKING&TRUST CO FIFTH THIRD BANK KEYBANK NATIONAL ASSN CAPITAL ONE NATIONAL ASSN BOKF NATIONAL ASSN CITIZENS BANK NATIONAL ASSN HUNTINGTON NATIONAL BANK COMPASS BANK CAPITAL ONE BANK USA NA NY NC SD VA UT MA NY DE IL GA DE OH AL CA NC OH OH VA OK RI OH AL VA 127,771 1,599,746 1,571,389 194,569 126,857 274,919 316,699 340,231 106,603 185,316 234,389 405,363 121,435 113,003 184,405 138,030 92,091 253,202 30,147 105,988 67,788 81,736 87,731 TOTA L DERIVATIVE S $56,389,46 53,059,13 44,698,204 31,310,285 5,874,933 4,678,641 2,260,686 1,377,182 1,216,074 360,414 261,986 237,420 178,509 154,853 80,975 75,214 66,683 66,089 63,324 57,567 42,688 41,854 33,223 28,569 25,395 TOTA L TOTAL TOTAL TOTAL TOTAL FUTURES OPTIONS SWAPS OPTIONS $1,243,934 $1,565,762 1,046,964 702,413 1,553,734 1,912,267 289,487 70,700 19,712 2,890 54,601 42,299 19,065 2,984 2,590 3,634 496 465 9,421 259 122 683 1,139,481 205,347 166,524 37,210 8,477 1,489 22,000 14,725 4,275 0 218 0 264 0 0 TOTAL FORWARDS $12,332,610 $28,307,335 7,211,959 33,163,012 5,171,754 30,602,305 9,111,729 15,532,255 741,042 4,122,155 812,932 3,131,421 510,642 1,003,065 1,339,165 5,554 480,781 522,964 18,915 243,569 248,094 13,096 13,300 124,207 14,258 162,934 56,084 74,109 14,357 58,876 3,246 57,019 12,951 42,947 9,638 42,408 6,963 41,227 2,129 53,987 37,883 2,669 8,948 29,338 3,054 27,341 1,391 21,058 7,548 17,847 SPO T F X $8,949,280 CREDI T DERIVATIVE S $3,990,548 $706,637 8,519,754 2,415,037 1,218,512 6,045,439 2,427,712 522,531 384,141 715,026 29,347 156,239 28,472 796 61,235 749 13,364 3,869 11,305 10,290 11,817 5,126 10 1,614 2,623 1,641 5,437 185,491 2,120,975 33,194 242,237 3,764 226 5,158 4,888 568 4,036 1,283 10 1,544 586 1,440 944 1,064 0 8,878 516,056 10,279 63,229 73,529 75,771 79,373 882 22,175 172 1,561 13 498 50 302 895 55 147 22 58 TOP 25 COMMERCIAL BANKS, SAs & TCs WITH $10,191,393 $202,639,3 $6,276,307 $3,868,185 $38,171,372 $117,402,700 $9,012,994 $2,779,105 DERIVATIVES 77 $27,907,818 OTHER COMMERCIAL BANKS, SAs & TCs WITH 3,964,162 480,695 6,572 1,286 83,103 308,131 77,966 3,637 1,215 DERIVATIVES TOTAL COMMERCIAL BANKS, SAs & TCs WITH 14,155,555 203,120,0 6,282,879 3,869,471 38,254,475 117,710,832 27,985,784 9,016,631 2,780,321 DERIVATIVES 72 Note: Credit derivatives have been included in the sum of total derivatives Credit derivatives have been included as an "over the counter" category, although the Call Report does not differentiate by market currently Note: Before the first quarter of 1995 total derivatives included spot foreign exchange Beginning in the first quarter, 1995, spot foreign exchange was reported separately Note: Numbers may not add due to rounding Data source: Call Reports, schedule RC-L TOP 25 COMMERCIAL BANKS, SAVINGS ASSOCIATIONS AND TRUST COMPANIES IN DERIVATIVES June 30, 2015, $ MILLIONS RANK 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 BANK NAME JPMORGAN CHASE BANK NA CITIBANK NATIONAL ASSN GOLDMAN SACHS BANK USA BANK OF AMERICA NA Wells Fargo Bank NA HSBC NA MORGAN STANLEY BANK NA STATE STREET BANK&TRUST CO BANK OF NEW YORK MELLON PNC BANK NATIONAL ASSN SUNTRUST BANK NORTHERN TRUST CO TD BANK NATIONAL ASSN U S BANK NATIONAL ASSN REGIONS BANK MUFG UNION BANK NA FIFTH THIRD BANK KEYBANK NATIONAL ASSN BRANCH BANKING&TRUST CO CAPITAL ONE NATIONAL ASSN CITIZENS BANK NATIONAL ASSN BOKF NATIONAL ASSN HUNTINGTON NATIONAL BANK COMPASS BANK CAPITAL ONE BANK USA NA OH TOTA L ASSET S $1,971,380 SD NY NC SD VA UT MA NY DE GA IL DE OH AL CA OH OH NC VA RI OK OH AL VA 1,336,201 122,681 1,606,232 1,553,871 190,500 126,643 289,425 320,204 343,630 184,223 119,600 235,030 414,002 120,932 113,525 139,250 92,481 186,643 255,291 106,948 30,616 68,662 82,894 93,338 STATE TOTAL DERIVATIVE S $53,319,45 52,169,657 45,718,947 29,062,647 6,091,938 4,567,318 2,153,784 1,315,480 1,187,765 374,547 258,557 257,570 182,927 174,729 76,824 76,509 71,195 67,860 62,206 59,565 44,239 43,156 33,184 31,370 26,958 TOTA L TOTA TOTA TOTA L L L FUTURE OPTION FORWARD S S S $1,309,323 $1,559,276 $9,701,149 1,316,643 1,502,901 2,137,033 312,176 76,492 19,065 12,127 52,125 41,426 23,153 0 4,439 2,584 4,032 467 13,090 629 0 232 71 447 766,988 1,148,482 188,099 131,326 24,471 3,924 1,019 30,000 15,175 0 3,125 77 144 0 0 366 0 7,298,189 5,173,545 7,040,486 596,428 933,141 398,595 1,270,468 564,703 20,705 17,785 244,341 13,077 60,558 15,933 3,019 8,994 7,367 12,024 1,798 8,873 37,461 2,783 2,146 8,249 TOTA L OPTION S $9,083,422 CREDIT DERIVATIVE S $3,681,593 $750,090 32,334,235 31,518,699 15,367,800 4,470,984 2,940,737 1,056,039 4,629 475,355 246,109 135,691 12,481 168,683 81,799 52,698 58,614 43,958 41,631 9,008 56,188 31,362 2,863 27,436 22,602 18,709 8,024,321 6,207,499 2,403,403 551,155 371,794 670,719 28,027 94,563 31,134 61,935 748 501 20,712 3,876 10,835 15,539 5,267 10,545 12 2,568 2,233 1,784 6,176 2,429,281 167,821 1,925,826 29,869 220,682 5,442 229 5,174 4,818 667 4,096 1,658 10 2,092 505 1,568 1,436 1,110 0 1,421,077 16,489 595,310 10,401 65,164 55,229 68,639 80,010 1,011 107 21,025 19 1,137 11 462 575 1,196 40 191 27 66 TOP 25 COMMERCIAL BANKS, SAs & TCs WITH $10,104,20 $197,428,388 $6,828,455 $3,872,471 $33,441,817 $117,193,00 DERIVATIVES OTHER COMMERCIAL BANKS, SAs & TCs WITH 4,084,754 486,246 2,017 1,251 80,230 315,561 DERIVATIVES TOTAL COMMERCIAL BANKS, SAs & TCs WITH 14,188,957 197,914,633 6,830,472 3,873,723 33,522,047 117,508,562 DERIVATIVES Note: Credit derivatives have been included in the sum of total derivatives Credit derivatives have been included as an "over the counter" category, although the differentiate by market currently Note: Before the first quarter of 1995 total derivatives included spot foreign exchange Beginning in the first quarter, 1995, spot separately Note: Numbers may not add due to rounding Data source: Call Reports, schedule RC-L SPO T FX TOTA L SWAP S $27,984,692 $27,608,76 83,267 27,692,035 $8,483,875 $3,088,288 3,920 1,854 8,487,795 3,090,142 Call Report does not foreign exchange was reported TOP 25 COMMERCIAL BANKS, SAVINGS ASSOCIATIONS AND TRUST COMPANIES IN DERIVATIVES SEPTEMBER 30, 2015, $ MILLIONS OH TOTA L ASSET S $1,954,125 CITIBANK NATIONAL ASSN SD 1,337,821 GOLDMAN SACHS BANK USA BANK OF AMERICA NA NY NC 127,605 1,616,426 TOTA L DERIVATIVE S $51,907,39 51,201,14 43,621,441 27,811,096 Wells Fargo Bank NA HSBC NA MORGAN STANLEY BANK NA STATE STREET BANK&TRUST CO SD VA UT MA 1,579,174 198,269 130,678 242,408 6,147,111 4,468,721 2,248,781 1,336,795 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 BANK OF NEW YORK MELLON PNC BANK NATIONAL ASSN SUNTRUST BANK NORTHERN TRUST CO TD BANK NATIONAL ASSN U S BANK NATIONAL ASSN MUFG UNION BANK NA KEYBANK NATIONAL ASSN REGIONS BANK FIFTH THIRD BANK BRANCH BANKING&TRUST CO CAPITAL ONE NATIONAL ASSN CITIZENS BANK NATIONAL ASSN BOKF NATIONAL ASSN HUNTINGTON NATIONAL BANK COMPASS BANK CAPITAL ONE BANK USA NA NY DE GA IL DE OH CA OH AL OH NC VA RI OK OH AL VA 302,197 351,502 183,166 119,640 241,083 410,890 114,358 93,147 123,859 139,456 203,893 254,436 104,924 30,355 70,015 84,682 96,692 1,117,690 369,836 249,933 241,261 192,795 184,231 95,169 79,850 79,579 69,359 61,104 56,759 44,902 39,763 32,739 31,431 28,699 RANK BANK NAME JPMORGAN CHASE BANK NA “ TOP 25 COMMERCIAL BANKS, SAs & TCs WITH DERIVATIVES OTHER COMMERCIAL BANKS, SAs & TCs WITH DERIVATIVES TOTAL COMMERCIAL BANKS, SAs & TCs WITH DERIVATIVES STATE TOTA L TOTA TOTA TOTA TOTA TOTA L L L L L FUTURE OPTION FORWARD SWAP OPTION S S S S S $1,238,989 $1,591,015 $8,392,67 $28,028,656 $9,156,458 1,471,162 739,913 7,014,99 31,266,198 8,275,889 1,897,886 1,601,932 4,969,828 28,669,757 6,310,210 2,915,231 250,707 6,399,00 14,281,740 2,149,577 234,397 150,322 490,977 4,665,160 574,612 77,005 45,580 841,491 2,930,344 361,803 39,675 43,956 435,082 1,034,693 689,149 15,798 1,291,08 4,396 25,517 45,120 956 579,157 423,644 68,658 47,834 17,000 20,723 251,481 27,570 22,748 16,756 17,945 125,788 61,627 0 226,128 14,093 1,040 0 11,823 179,733 503 4,663 4,170 57,413 93,748 19,804 2,969 22,936 58,896 10,358 23,213 7,801 42,699 5,556 2,118 90 18,034 53,859 3,706 411 140 7,588 45,127 14,206 652 9,591 40,709 10,152 17 1,096 53,907 13 0 8,713 31,948 2,568 171 378 34,319 2,709 2,187 106 2,903 27,570 1,086 422 1,107 22,937 6,965 0 7,787 20,912 $10,110,803 $191,717,586 4,112,594 483,263 3,128 1,083 192,200,849 8,043,715 4,463,998 14,223,397 $8,040,587 $4,462,914 $30,870,20 74,186 30,944,386 $112,370,705 $27,779,21 326,901 74,260 112,697,606 27,853,476 $676,598 2,432,991 834,098 171,828 1,814,832 27,950 623,535 31,643 212,499 6,226 7,162 69,689 52,008 64,868 155 5,228 5,069 736 4,432 10 580 1,771 1,887 1,726 1,673 1,073 0 83,006 1,145 228 17,516 1,728 755 735 28 348 41 104 33 13 76 $8,193,964 $2,461,677 3,704 1,012 8,197,668 2,462,689 Note: Credit derivatives have been included in the sum of total derivatives Credit derivatives have been included as an "over the counter" category, although the Call Report does not differentiate by market currently Note: Before the first quarter of 1995 total derivatives included spot foreign exchange Beginning in the first quarter, 1995, spot foreign exchange was reported separately Note: Numbers may not add due to rounding Data source: Call Reports, schedule RC-L ” SPO T FX CREDIT DERIVATIVE S $3,499,604 TOP 25 COMMERCIAL BANKS, SAVINGS ASSOCIATIONS AND TRUST COMPANIES IN DERIVATIVES DECEMBER 31, 2015, $ MILLIONS TOTA L OH TOTA L ASSET S $1,914,658 CITIBANK NATIONAL ASSN SD 1,299,801 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 GOLDMAN SACHS BANK USA BANK OF AMERICA NA Wells Fargo Bank NA HSBC NA MORGAN STANLEY BANK NA STATE STREET BANK&TRUST CO BANK OF NEW YORK MELLON PNC BANK NATIONAL ASSN NORTHERN TRUST CO SUNTRUST BANK U S BANK NATIONAL ASSN TD BANK NATIONAL ASSN MUFG UNION BANK NA REGIONS BANK FIFTH THIRD BANK KEYBANK NATIONAL ASSN CAPITAL ONE NATIONAL ASSN BRANCH BANKING&TRUST CO CITIZENS BANK NATIONAL ASSN BOKF NATIONAL ASSN HUNTINGTON NATIONAL BANK COMPASS BANK CAPITAL ONE BANK USA NA NY NC SD VA UT MA NY DE IL GA OH DE CA AL OH OH VA NC RI OK OH AL VA 134,695 1,639,305 1,610,580 183,138 136,028 240,898 319,258 348,291 116,391 186,711 417,458 246,486 115,384 125,121 138,621 93,038 273,232 205,126 108,065 31,273 70,880 85,427 102,172 RANK BANK NAME “ JPMORGAN CHASE BANK NA STATE TOTA L DERIVATIVE S $51,139,44 46,400,25 41,041,336 25,669,494 5,732,768 4,164,986 2,118,804 1,271,580 1,067,851 351,788 250,829 248,713 198,435 187,016 129,102 78,643 70,310 67,887 65,497 56,858 52,330 35,601 32,484 31,224 30,990 TOTA L FUTURE S TOTA L OPTION S TOTA L FORWARD S TOTA L SWAP S TOTA L OPTION S CREDIT DERIVATIVE S SPO T F X $893,828 $1,488,253 $9,115,468 $28,269,897 $8,478,963 $2,893,039 $90,307 1,679,558 1,144,998 5,792,003 28,251,519 7,472,430 2,059,748 342,200 1,865,747 2,298,883 209,208 61,093 29,198 2,573 38,110 37,737 22,351 3,248 2,411 2,306 295 8,398 95 415 138 99 390 2,052,435 120,601 109,414 26,280 2,786 209 6,000 13,588 5,018 0 68 113 0 0 297 0 3,446,595 5,939,356 526,659 904,403 444,243 1,238,650 570,180 20,071 236,971 16,734 51,357 10,519 55,358 16,003 6,605 7,674 1,718 7,719 9,268 30,621 2,355 1,121 8,245 27,188,351 13,842,243 4,256,487 2,653,139 1,080,895 4,967 395,725 257,539 12,819 134,381 112,829 175,148 61,615 54,246 44,254 45,392 61,938 40,195 37,392 2,551 27,948 22,615 22,744 6,324,203 1,850,465 601,788 329,403 557,805 25,390 63,308 25,323 1,040 57,002 21,570 584 9,708 4,094 17,208 5,791 8,529 3,923 1,994 989 7,097 164,005 1,617,946 29,212 190,670 3,877 319 5,117 4,657 4,413 765 10 1,926 1,834 632 1,737 1,746 1,093 0 7,853 404,112 4,353 42,724 36,499 37,065 52,706 1,067 10,712 99 1,003 498 71 300 567 12 28 44 17 55 103 TOP 25 COMMERCIAL BANKS, SAs & TCs WITH $10,142,036 $180,494,231 $7,156,082 $4,970,060 $28,459,897 $107,056,83 $25,868,61 $6,982,748 $1,032,401 DERIVATIVES OTHER COMMERCIAL BANKS, SAs & TCs WITH 4,277,069 478,962 3,407 1,202 65,548 335,738 69,321 3,746 1,091 DERIVATIVES TOTAL COMMERCIAL BANKS, SAs & TCs WITH 14,419,104 180,973,192 7,159,488 4,971,262 28,525,445 107,392,568 25,937,936 6,986,493 1,033,492 DERIVATIVES Note: Credit derivatives have been included in the sum of total derivatives Credit derivatives have been included as an "over the counter" category, although the Call Report does not differentiate by market currently Note: Before the first quarter of 1995 total derivatives included spot foreign exchange Beginning in the first quarter, 1995, spot foreign exchange was reported separately Note: Numbers may not add due to rounding Data source: Call Reports, schedule RC-L ” TOP 25 COMMERCIAL BANKS, SAVINGS ASSOCIATIONS AND TRUST COMPANIES IN DERIVATIVES MARCH 31, 2016, MILLIONS OF DOLLARS RANK BANK NAME STATE TOTA TOTAL L DERIVATIVE ASSET S S $2,015,718 $52,911,434 1,342,643 52,052,635 143,403 44,434,385 1,653,947 26,262,286 1,667,785 5,995,075 198,798 4,203,729 136,966 2,237,218 239,278 1,334,726 299,816 1,014,883 350,643 370,609 189,908 263,627 117,434 259,352 423,204 234,024 253,738 179,787 120,033 127,972 124,637 83,056 271,188 74,425 96,390 68,688 139,966 66,967 206,875 58,295 109,313 53,409 31,211 41,070 87,629 34,597 72,469 31,922 99,552 30,091 $10,392,544 $192,424,262 TOTA L TOTA L FUTURE S $1,072,240 1,460,180 2,369,614 2,312,470 163,487 67,491 27,941 13,166 32,469 37,661 24,540 4,243 3,344 2,727 65 6,938 322 309 123 330 49 $7,599,709 TOTA TOTA TOTA TOTA L L L L OPTION FORWARD SWAP OPTION S S S S $1,231,228 $9,076,408 $29,661,994 $8,747,069 1,500,086 6,010,525 32,510,230 8,345,110 3,032,943 3,892,352 28,456,295 6,518,114 168,558 6,231,946 14,016,372 1,879,245 170,801 819,646 4,148,796 662,318 12,716 539,508 3,039,283 360,115 3,662 539,461 1,098,874 563,172 1,291,731 5,057 24,771 155 554,175 372,149 55,530 18,000 19,536 262,978 26,586 16,034 20,149 137,344 60,590 243,574 14,640 1,089 3,955 63,972 134,497 22,576 9,512 168,771 736 50,975 64,248 9,396 95 18,310 55,539 4,403 1,638 70,570 90 6,129 49,454 5,735 79 6,744 43,594 13,724 9,618 41,042 7,326 9,924 36,225 4,952 402 35,329 2,747 2,469 1,687 24,740 7,840 2,670 27,009 1,043 8,012 22,079 $6,158,715 $29,463,531 $114,464,529 $27,323,99 1,689 81,227 349,913 80,013 SPO CREDIT T DERIVATIVE FX S $3,122,495 $751,937 2,226,504 918,122 165,067 14,627 1,653,695 625,328 30,027 7,003 184,616 29,173 4,108 49,287 65,603 405 71,360 5,848 1,089 4,969 153 49 20,706 4,781 2,979 767 10 753 1,982 17 2,062 25 432 621 2,503 333 32 2,308 98 45 1,151 72 $7,413,779 $2,559,382 JPMORGAN CHASE BANK NA OH CITIBANK NATIONAL ASSN SD GOLDMAN SACHS BANK USA NY BANK OF AMERICA NA NC WELLS FARGO BANK NA SD HSBC NA VA MORGAN STANLEY BANK NA UT STATE STREET BANK & TRUST CO MA BANK OF NEW YORK MELLON NY 10 PNC BANK NATIONAL ASSN DE 11 SUNTRUST BANK GA 12 NORTHERN TRUST CO IL 13 U.S BANK NATIONAL ASSN OH 14 TD BANK NATIONAL ASSN DE 15 MUFG UNION BANK NA CA 16 REGIONS BANK AL 17 CAPITAL ONE NATIONAL ASSN VA 18 KEYBANK NATIONAL ASSN OH 19 FIFTH THIRD BANK OH 20 BRANCH BANKING & TRUST CO NC 21 CITIZENS BANK NATIONAL ASSN RI 22 BOKF NATIONAL ASSN OK 23 COMPASS BANK AL 24 HUNTINGTON NATIONAL BANK OH 25 CAPITAL ONE BANK USA NA VA TOP 25 COMMERCIAL BANKS, SAs & TCs WITH DERIVATIVES OTHER COMMERCIAL BANKS, SAs & TCs WITH 4,365,326 522,989 6,093 4,054 DERIVATIVES TOTAL COMMERCIAL BANKS, SAs & TCs WITH 14,757,870 192,947,250 7,605,802 6,160,404 29,544,758 114,814,442 27,404,012 7,417,833 DERIVATIVES Note: Credit derivatives have been included in the sum of total derivatives Credit derivatives have been included as an "over the counter" category, although the Call report does not differentiate by market currently Note: Before the first quarter of 1995 total derivatives included spot FX Beginning in that quarter, spot FX has been reported separately Note: Numbers may not total due to rounding Source: Call reports, Schedule RC-L 1,730 2,561,112 TOP 25 COMMERCIAL BANKS, SAVINGS ASSOCIATIONS AND TRUST COMPANIES IN DERIVATIVES JUNE 30, 2016, MILLIONS OF DOLLARS RANK 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 BANK NAME “ STATE JPMORGAN CHASE BANK NA CITIBANK NATIONAL ASSN GOLDMAN SACHS BANK USA BANK OF AMERICA NA Wells Fargo Bank NA HSBC NA MORGAN STANLEY BANK NA STATE STREET BANK&TRUST CO BANK OF NEW YORK MELLON PNC BANK NATIONAL ASSN SUNTRUST BANK NORTHERN TRUST CO U S BANK NATIONAL ASSN TD BANK NATIONAL ASSN MUFG UNION BANK NA REGIONS BANK CAPITAL ONE NATIONAL ASSN KEYBANK NATIONAL ASSN FIFTH THIRD BANK BRANCH BANKING&TRUST CO CITIZENS BANK NATIONAL ASSN BOKF NATIONAL ASSN COMPASS BANK HUNTINGTON NATIONAL BANK CAPITAL ONE BANK USA NA OH SD NY NC SD VA UT MA NY DE GA IL OH DE CA AL VA OH OH NC RI OK AL OH VA TOTA L ASSET S $2,051,004 1,365,660 160,666 1,657,878 1,699,435 206,206 135,608 251,261 298,719 350,224 194,679 121,145 433,463 255,727 115,975 125,256 278,661 99,138 141,112 217,159 112,992 31,817 86,738 73,864 103,537 TOTAL DERIVATIVE S $53,282,233 50,159,340 41,372,238 26,862,637 6,835,435 4,175,694 2,122,485 1,389,582 1,017,825 359,823 275,572 265,237 261,106 174,778 145,615 86,432 79,038 71,872 66,227 62,750 60,060 47,083 36,226 31,397 31,218 TOTA L TOTA TOTA TOTA TOTA L L L L FUTURE OPTION FORWARD SWAP S S S S $1,073,154 $1,557,081 $9,606,442 $29,986,580 1,744,618 1,363,701 5,672,004 30,800,530 1,524,560 2,568,209 4,759,495 26,299,069 2,012,935 134,502 6,928,682 14,580,309 135,634 131,637 1,517,762 4,307,722 89,953 46,478 552,569 2,952,885 39,506 8,715 479,567 1,008,120 10,882 1,347,622 5,006 26,707 62 556,249 383,430 19,461 14,000 22,226 270,975 29,734 14,291 21,310 142,513 0 250,017 14,082 6,482 3,580 60,155 161,350 0 8,256 165,135 4,074 67,874 65,082 4,151 19,324 56,239 86 2,350 74,398 6,283 6,355 52,457 371 61 6,240 43,780 376 11,471 44,154 0 10,909 41,668 180 476 40,651 2,946 221 1,615 26,149 83 2,664 26,314 0 8,249 22,969 TOTA CREDIT L DERIVATIVE OPTION S S $8,385,209 $2,673,767 8,247,046 2,331,441 6,067,117 153,788 1,747,726 1,458,483 710,958 31,722 370,690 163,119 578,235 8,342 26,072 51,061 316 26,819 6,343 62,838 4,885 1,089 49 24,669 4,870 736 652 8,575 10 4,424 2,295 117 2,088 6,301 477 13,208 2,567 6,748 5,071 2,413 2,830 8,241 1,079 1,257 0 SPO T FX $785,211 922,843 8,282 539,758 6,066 29,982 62,783 74,192 60,290 1,081 225 20,596 2,030 351 64 15 674 256 24 65 24 23 93 TOP 25 COMMERCIAL BANKS, SAs & TCs WITH $10,567,923 $189,271,906 $6,729,452 $5,842,793 $31,960,057 $111,533,86 $26,356,860 $6,848,883 $2,514,942 DERIVATIVES OTHER COMMERCIAL BANKS, SAs & TCs WITH 4,461,491 560,605 9,862 1,901 90,419 366,778 87,214 4,432 1,859 DERIVATIVES TOTAL COMMERCIAL BANKS, SAs & TCs WITH 15,029,414 189,832,511 6,739,314 5,844,694 32,050,476 111,900,639 26,444,074 6,853,314 2,516,800 DERIVATIVES Note: Credit derivatives have been included in the sum of total derivatives Credit derivatives have been included as an "over the counter" category, although the Call report does not differentiate by market currently Note: Before the first quarter of 1995 total derivatives included spot FX Beginning in that quarter, spot FX has been reported separately Note: Numbers may not total due to "roundSource: Call reports, Schedule RC-L ” ... CHƯƠNG 5: MỘT SỐ GIẢI PHÁP NHẰM PHÁT TRIỂN GIAO DỊCH PHÁI SINH TẠI CÁC NH THƯƠNG MẠI VIỆT NAM 140 5.1 Điều kiện phát triển giao dịch tài phái sinh NHTM Việt Nam 140 5.1.1 Điều... Ngân hàng TMCP Đầu tư phát triển Việt Nam (BIDV) - Ngân hàng TMCP Công thương Việt Nam (Vietinbank) - Ngân hàng TMCP Á Châu (ACB) - Ngân hàng TMCP Kỹ Thương Việt Nam (Techcombank) - Ngân hàng. .. ĐẾN PHÁT TRIỂN GIAO DỊCH PHÁI SINH TẠI CÁC NGÂN HÀNG THƯƠNG MẠI VIỆT NAM .113 4.1 Mơ hình nhân tố ảnh hưởng đến phát triển GDPS NHTM 113 4.1.1 Một số nghiên cứu nhân tố ảnh hưởng đến phát triển