Key facts
- UK banks' net derivatives balance narrowed to £9.9 billion in Q2.
- This is the smallest net derivatives balance since 2015.
- Gross derivatives liabilities rose 1.7% to £3.18 trillion.
- Gross derivatives assets rose 0.8% to £3.19 trillion.
The net value of derivatives held by UK banks fell to £9.9 billion ($13.3 billion) in the second quarter, marking the smallest gap between assets and liabilities since 2015. This reduction was primarily driven by liabilities increasing at a faster pace than assets. Gross derivatives liabilities rose by 1.7% from the previous quarter to reach £3.18 trillion, while gross assets saw a more modest increase of 0.8% to £3.19 trillion.