HSBC led the way in slashing derivatives exposures in 2020, cutting the most exposures across the 30 global systemically important banks (G-Sibs), data from the Basel Committee shows.
The UK dealer held €18.6 trillion ($16.5 trillion) in over-the-counter derivatives notionals at the end of December, down almost €5 trillion compared with the previous year.
Credit Suisse followed suit, shrinking OTC notionals by €4 trillion to €16.9 trillion. Bank of America reduced exposures by €3.8
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