OTC derivatives market activity in the first half of 2009

Notional amounts of all types of OTC contracts rebounded somewhat to stand at $605 trillion at the end of June 2009, 10% above the level six months before. In contrast, gross market values decreased by 21% to $25 trillion. Similarly, gross credit exposures fell by 18% from an end-2008 peak of $4.5 trillion to $3.7 trillion. Meanwhile, notional amounts of CDS contracts continued to decline, albeit at a slower pace than in the second half of 2008, and CDS gross market values shrank by 42%, following an increase of 60% during the previous six-month period.

Comprehensive explanatory notes in the release define the coverage of the statistics and the terms used in presenting them.

Any queries arising from these statistics can be directed to:

Carlos Mallo tel: +41 61 280 8256; e-mail: carlos.mallo@bis.org

Jacob Gyntelberg tel: +41 61 280 8891; e-mail: jacob.gyntelberg@bis.org

The BIS expects to release the OTC derivatives statistics for the second half of 2009 no later than 10 May 2010.