Top European Union banks saw derivatives exposures, as reported for leverage adequacy purposes, jump 36% in the first half of the year. While the switch to the standardised approach to counterparty credit risk (SA-CCR) was highlighted by some dealers as the main driver behind the increase, a mix of seasonal book expansion and technical reporting changes also played a role.

On aggregate, the 18 lenders tracked by Risk Quantum reported €881.2 billion ($1 trillion) in derivatives exposure at end