RCFD8697: Interest Rate Forward Contracts
RCFD8697 is the call report code for interest rate forward contracts, reported on Schedule RC-L, Derivatives and Off-Balance-Sheet Items. For Q2 2026, 80 banks reported it, totaling $10.56T; the median among the 35 with a nonzero amount was $802.0M. The largest value reported for Q2 2026 was $3.02T, by Goldman Sachs Bank USA.
Definition
Includes commitments to purchase and sell when-issued securities as forward contracts on a gross basis (except that banks may net purchases and sales of the identical security with the same party) unless the reporting bank does not include these commitments as part of its disclosures about off-balance sheet derivatives for other financial reporting purposes. In that case, commitments to purchase when-issued securities are reported as 'Other off-balance sheet liabilities' in Schedule RC-L, item 12 (3430), and commitments to sell when-issued securities as 'Other off-balance sheet assets' in Schedule RC-L, item 13 (5591), subject to the existing reporting thresholds for these two items. Includes forward contracts committing the reporting entity to purchase or sell financial instruments and whose predominant risk characteristic is interest rate risk. Also includes firm commitments (i.e., commitments that have a specific interest rate, selling date, and dollar amount) to sell loans secured by 1-to-4 family residential properties.
Source: Federal Reserve Micro Data Reference Manual (MDRM). The FFIEC call report instructions remain the authority on how to report the item.
Where RCFD8697 sits on the call report
| Code | RCFD8697 (prefix RCFD, item 8697) |
|---|---|
| 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 | 1993 |
The same item under other prefixes
Item 8697 is also reported under these codes. Which banks file each one depends on the form they file.
| Code | Meaning of the prefix | Banks reporting |
|---|---|---|
| RCON8697 | 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 | RCFD8697 |
|---|---|---|
| Goldman Sachs Bank USA | New York, NY | $3.02T |
| Morgan Stanley Bank, N.A. | Salt Lake City, UT | $2.83T |
| JPMorgan Chase Bank, N.A. | Columbus, OH | $2.74T |
| Citibank, N.A. | Sioux Falls, SD | $1.54T |
| Bank of America, N.A. | Charlotte, NC | $244.03B |
| Wells Fargo Bank, N.A. | Sioux Falls, SD | $138.68B |
| Citizens Bank, N.A. | Providence, RI | $8.72B |
| U.S. Bank N.A. | Cincinnati, OH | $8.67B |
| Truist Bank | Charlotte, NC | $5.39B |
| PNC Bank, N.A. | Wilmington, DE | $4.59B |
Total reported by quarter
| Quarter end | Banks reporting | Total reported |
|---|---|---|
| June 30, 2026 | 80 | $10.56T |
| March 31, 2026 | 80 | $11.34T |
| December 31, 2025 | 80 | $5.39T |
| September 30, 2025 | 80 | $7.63T |
| June 30, 2025 | 80 | $8.34T |
| March 31, 2025 | 82 | $7.16T |
| December 31, 2024 | 82 | $4.71T |
| September 30, 2024 | 82 | $7.59T |
Related
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