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OTC derivatives statistics at end-December 2023
The overall notional value of outstanding OTC derivatives continued its upward trajectory. The year-on-year (yoy) change, where seasonal patterns are not evident, shows significant growth of $49 trillion, or 8%, the highest annual rate observed since 2017. Amounts grew in the first half of 2023 by 15%, and then contracted by 6% in the second, to reach $667 trillion (Graph 1.A). This saw-tooth pattern is a result of seasonal factors, particularly evident since 2016, whereby notional outstanding amounts decrease temporarily before the end of each calendar year.1 Across risk categories, growth rates in 2023 varied. ... (full story)