RCFD8710: Written OTC Foreign Exchange Option Contracts
RCFD8710 is the call report code for written otc foreign exchange option contracts, reported on Schedule RC-L, Derivatives and Off-Balance-Sheet Items. For Q2 2026, 80 banks reported it, totaling $4.45T; the median among the 26 with a nonzero amount was $1.12B. The largest value reported for Q2 2026 was $1.19T, by Citibank, N.A.
Definition
A written currency option contract conveys the obligation to exchange two different currencies at a specified exchange rate. Includes the gross amount (stated in U.S. dollars) of foreign (non-U.S.) currency and U.S. dollar exchange that the reporting entity has, for compensation, obligated itself to either purchase or sell under OTC option contracts whose predominant risk characteristic is foreign exchange risk.
Source: Federal Reserve Micro Data Reference Manual (MDRM). The FFIEC call report instructions remain the authority on how to report the item.
Where RCFD8710 sits on the call report
| Code | RCFD8710 (prefix RCFD, item 8710) |
|---|---|
| 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 8710 is also reported under these codes. Which banks file each one depends on the form they file.
| Code | Meaning of the prefix | Banks reporting |
|---|---|---|
| RCON8710 | 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 | RCFD8710 |
|---|---|---|
| Citibank, N.A. | Sioux Falls, SD | $1.19T |
| JPMorgan Chase Bank, N.A. | Columbus, OH | $1.13T |
| Morgan Stanley Bank, N.A. | Salt Lake City, UT | $928.71B |
| Goldman Sachs Bank USA | New York, NY | $555.81B |
| Bank of America, N.A. | Charlotte, NC | $554.20B |
| Wells Fargo Bank, N.A. | Sioux Falls, SD | $53.72B |
| HSBC Bank USA, N.A. | Tysons, VA | $21.91B |
| The Bank of New York Mellon | New York, NY | $4.28B |
| Fifth Third Bank, N.A. | Cincinnati, OH | $1.94B |
| State Street Bank and Trust Company | Boston, MA | $1.68B |
Total reported by quarter
| Quarter end | Banks reporting | Total reported |
|---|---|---|
| June 30, 2026 | 80 | $4.45T |
| March 31, 2026 | 80 | $4.75T |
| December 31, 2025 | 80 | $2.86T |
| September 30, 2025 | 80 | $3.52T |
| June 30, 2025 | 80 | $4.02T |
| March 31, 2025 | 82 | $3.78T |
| December 31, 2024 | 82 | $3.12T |
| September 30, 2024 | 82 | $3.28T |
Related
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