Top US dealers’ trading risk indicators varied in Q3
VAR drops sharply at JP Morgan and Goldman, stays steady at Morgan Stanley and rises at BofA
Trading risk-of-loss estimates disclosed by Bank of America, Goldman Sachs, JP Morgan and Morgan Stanley diverged over the third quarter.
Having surged over Q1 and Q2, average daily value-at-risk indicators at JP Morgan and Goldman Sachs fell sharply over the three months to end-September, by 30% and 25%, respectively.
At Morgan Stanley, VAR dipped only slightly quarter on quarter, by 3% to $58 million.
Bank of America, in contrast, saw its VAR edge higher over Q3, by 5% to $22 million.
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