UK derivatives values grow on forex activity
Foreign exchange contact values leap £0.4 trillion in second quarter
The gross mark-to-market value of all derivatives contracts held by UK banks rebounded in the second quarter, ticking up for the first time since the first quarter of 2016.
Bank of England data show total gross derivatives assets and liabilities at £4.9 trillion ($6.4 trillion) at the end of June, up from £4.7 trillion in the previous quarter – a 3% jump.
The growth was driven by higher values for foreign exchange derivatives, which rose 33% quarter to quarter: to £1.5 trillion from £1.1
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