RCFD8701: Written Exchange-traded Interest Rate Option Contracts
RCFD8701 is the call report code for written exchange-traded interest rate option contracts, reported on Schedule RC-L, Derivatives and Off-Balance-Sheet Items. For Q2 2026, 80 banks reported it, totaling $971.36B; the median among the 8 with a nonzero amount was $66.23B. The largest value reported for Q2 2026 was $299.31B, by JPMorgan Chase Bank, N.A.
Definition
For exchange-traded option contracts obligating the reporting entity to either purchase or sell an interest rate futures contract and whose predominant risk characteristic is interest rate risk, the par value of the financial instrument underlying the futures contract is reported. An example of such a contract is a Chicago Board Options Exchange option on the 13-week Treasury bill rate. Exchange-traded option contracts. Option contracts convey either the right or the obligation, depending upon whether the reporting entity is the purchaser or the writer, respectively, to buy or sell a financial instrument or commodity at a specified price by a specified future date. Some options are traded on organized exchanges. The buyer of an option contract has, for compensation (such as a fee or premium), acquired the right (or option) to sell to, or purchase from, another party some financial instrument or commodity at a stated price on a specified future date. The seller of the contract has, for such compensation, become obligated to purchase or sell the financial instrument or commodity at the option of the buyer of the contract. A put option contract obligates the seller of the contract to purchase some financial instrument or commodity at the option of the buyer of the contract. A call option contract obligates the seller of the contract to sell some financial instrument or commodity at the option of the buyer of the contract. Written options. Reported is the aggregate par value of the financial instruments or commodities that the reporting bank has, for compensation (such as a fee or premium), obligated itself to either purchase or sell under exchange-traded option contracts that are outstanding as of the report date.
Source: Federal Reserve Micro Data Reference Manual (MDRM). The FFIEC call report instructions remain the authority on how to report the item.
Where RCFD8701 sits on the call report
| Code | RCFD8701 (prefix RCFD, item 8701) |
|---|---|
| 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 8701 is also reported under these codes. Which banks file each one depends on the form they file.
| Code | Meaning of the prefix | Banks reporting |
|---|---|---|
| RCON8701 | 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 | RCFD8701 |
|---|---|---|
| JPMorgan Chase Bank, N.A. | Columbus, OH | $299.31B |
| Goldman Sachs Bank USA | New York, NY | $255.92B |
| Citibank, N.A. | Sioux Falls, SD | $228.65B |
| Wells Fargo Bank, N.A. | Sioux Falls, SD | $78.64B |
| Bank of America, N.A. | Charlotte, NC | $53.82B |
| Morgan Stanley Bank, N.A. | Salt Lake City, UT | $49.22B |
| PNC Bank, N.A. | Wilmington, DE | $5.12B |
| U.S. Bank N.A. | Cincinnati, OH | $675.0M |
Total reported by quarter
| Quarter end | Banks reporting | Total reported |
|---|---|---|
| June 30, 2026 | 80 | $971.36B |
| March 31, 2026 | 80 | $1.08T |
| December 31, 2025 | 80 | $698.61B |
| September 30, 2025 | 80 | $956.08B |
| June 30, 2025 | 80 | $793.94B |
| March 31, 2025 | 82 | $677.74B |
| December 31, 2024 | 82 | $675.38B |
| September 30, 2024 | 82 | $1.02T |
Related
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