RCFD8698: Foreign Exchange Forward Contracts
RCFD8698 is the call report code for foreign exchange forward contracts, reported on Schedule RC-L, Derivatives and Off-Balance-Sheet Items. For Q2 2026, 80 banks reported it, totaling $34.78T; the median among the 38 with a nonzero amount was $4.80B. The largest value reported for Q2 2026 was $10.69T, by JPMorgan Chase Bank, N.A.
Definition
Includes the gross amount (stated in U.S. dollars) of all forward contracts committing the reporting entity to purchase foreign (non-U.S.) currencies and U.S. dollar exchange and whose predominant risk characteristic is foreign exchange risk. A foreign foreign exchange contract is an agreement for delayed delivery of a foreign (non-U.S.) currency or U.S. dollar exchange in which the buyer agrees to purchase and the seller agrees to deliver, at a specified future date, a specified amount at a specified exchange rate.
Source: Federal Reserve Micro Data Reference Manual (MDRM). The FFIEC call report instructions remain the authority on how to report the item.
Where RCFD8698 sits on the call report
| Code | RCFD8698 (prefix RCFD, item 8698) |
|---|---|
| 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 8698 is also reported under these codes. Which banks file each one depends on the form they file.
| Code | Meaning of the prefix | Banks reporting |
|---|---|---|
| RCON8698 | 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 | RCFD8698 |
|---|---|---|
| JPMorgan Chase Bank, N.A. | Columbus, OH | $10.69T |
| Citibank, N.A. | Sioux Falls, SD | $5.77T |
| Goldman Sachs Bank USA | New York, NY | $4.45T |
| Bank of America, N.A. | Charlotte, NC | $4.28T |
| State Street Bank and Trust Company | Boston, MA | $3.29T |
| Wells Fargo Bank, N.A. | Sioux Falls, SD | $2.97T |
| Morgan Stanley Bank, N.A. | Salt Lake City, UT | $1.45T |
| HSBC Bank USA, N.A. | Tysons, VA | $673.70B |
| The Bank of New York Mellon | New York, NY | $509.31B |
| The Northern Trust Company | Chicago, IL | $471.07B |
Total reported by quarter
| Quarter end | Banks reporting | Total reported |
|---|---|---|
| June 30, 2026 | 80 | $34.78T |
| March 31, 2026 | 80 | $33.79T |
| December 31, 2025 | 80 | $26.48T |
| September 30, 2025 | 80 | $29.04T |
| June 30, 2025 | 80 | $28.72T |
| March 31, 2025 | 82 | $26.58T |
| December 31, 2024 | 82 | $22.18T |
| September 30, 2024 | 82 | $26.57T |
Related
All codes on Schedule RC-L · All call report schedules · Find the code for a loan type · What a call report is