RCFD3826: Foreign Exchange Swaps
RCFD3826 is the call report code for foreign exchange swaps, reported on Schedule RC-L, Derivatives and Off-Balance-Sheet Items. For Q2 2026, 80 banks reported it, totaling $32.39T; the median among the 21 with a nonzero amount was $16.54B. The largest value reported for Q2 2026 was $10.08T, by Citibank, N.A.
Definition
Includes the notional principal amount (stated in U.S. dollars) of all outstanding cross-currency interest rate swaps, whether the swap is undertaken by the reporting entity to hedge its own exchange rate risk, in an intermediary capacity, or to hold in inventory. In those cases where the reporting entity is acting as an intermediary, both sides of the transaction are reported.A cross-currency interest rate swap is a transaction in which two parties agree to exchange principal amounts of different currencies, usually at the prevailing spot rate, at the inception of an agreement which lasts for a certain number of years. At defined intervals over the life of the swap, the counter parties exchange payments in the different currencies based on specified rates of interest. When the agreement matures, the principal amounts is re-exchanged at the same spot rate. The notional amount of a cross-currency interest rate swap is generally the underlying principal amount upon which the exchange is based. Reported on Schedule L for the FFIEC 002 report. Also excludes all transactions with related depository institutions.
Source: Federal Reserve Micro Data Reference Manual (MDRM). The FFIEC call report instructions remain the authority on how to report the item.
Where RCFD3826 sits on the call report
| Code | RCFD3826 (prefix RCFD, item 3826) |
|---|---|
| Prefix RCFD | The consolidated bank, domestic and foreign offices, reported by FFIEC 031 filers (banks with foreign offices). |
| Schedule | RC-L, Derivatives and Off-Balance-Sheet Items |
| Reported on | FFIEC 031 |
| Value | Dollar amount, reported in thousands, as of the quarter end |
| In the MDRM since | 1990 |
The same item under other prefixes
Item 3826 is also reported under these codes. Which banks file each one depends on the form they file.
| Code | Meaning of the prefix | Banks reporting |
|---|---|---|
| RCON3826 | Domestic offices. Banks without foreign offices (FFIEC 041 and 051 filers) report their whole balance sheet in RCON items | 935 |
Largest reported values, Q2 2026
| Bank | Headquarters | RCFD3826 |
|---|---|---|
| Citibank, N.A. | Sioux Falls, SD | $10.08T |
| JPMorgan Chase Bank, N.A. | Columbus, OH | $6.21T |
| Morgan Stanley Bank, N.A. | Salt Lake City, UT | $5.23T |
| Goldman Sachs Bank USA | New York, NY | $3.70T |
| Wells Fargo Bank, N.A. | Sioux Falls, SD | $3.01T |
| Bank of America, N.A. | Charlotte, NC | $2.50T |
| The Bank of New York Mellon | New York, NY | $826.66B |
| HSBC Bank USA, N.A. | Tysons, VA | $675.27B |
| U.S. Bank N.A. | Cincinnati, OH | $52.32B |
| Citizens Bank, N.A. | Providence, RI | $26.84B |
Total reported by quarter
| Quarter end | Banks reporting | Total reported |
|---|---|---|
| June 30, 2026 | 80 | $32.39T |
| March 31, 2026 | 80 | $31.90T |
| December 31, 2025 | 80 | $24.98T |
| September 30, 2025 | 80 | $25.15T |
| June 30, 2025 | 80 | $24.09T |
| March 31, 2025 | 82 | $21.54T |
| December 31, 2024 | 82 | $19.81T |
| September 30, 2024 | 82 | $21.78T |
Related
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