September 24, 2024 (NO COMMENTS)

A 30% surge in notionals coincided with a departure from central clearing

 

JP Morgan’s primary European Union subsidiary grew its over-the-counter derivatives portfolio faster than any of the bloc’s major dealers in 2023, bringing it on par with Crédit Agricole in terms of total notional exposures, data from the European Banking Authority (EBA) shows. Frankfurt-based JP Morgan SE – the entity into which most of the bank’s EU operations were merged two-and-a-half years ago – increased its OTC derivatives notional by €4.44 trillion ($4.94 trillion) last year to €19.42