The notional value of outstanding over-the-counter (OTC) derivatives rose to $632 trillion at end-June 2022, up from $598 trillion at end-2021. This marks a continuation of the moderate upward trend evident since end-2016. The gross market value of outstanding OTC derivatives, summing positive and negative values, rose noticeably in the first half of 2022, to $18.3 trillion, led by increases in interest rate derivatives. The value of some commodity derivatives surged against the background of rising food and energy prices. The end-June 2022 derivatives data benefit from data reported by a broader set of reporting dealers, as part of the BIS Triennial Central Bank Survey.1 Dealers that report only every three years accounted for 9% of the notional value of outstanding derivatives at end-June 2022, unchanged from the 2019 Survey.

This information was gathered from the Bank for International Settlements