RCFDG411: Notional Amount of Sold Credit Protection: Subinvestment Grade - with Remaining Maturity of Over Five Years
RCFDG411 is the call report code for notional amount of sold credit protection: subinvestment grade - with remaining maturity of over five years, reported on Schedule RC-L, Derivatives and Off-Balance-Sheet Items (FFIEC 031 Schedule RC-L, item 7.d.(1)(b)). For Q2 2026, 80 banks reported it, totaling $49.71B; the median among the 17 with a nonzero amount was $209.0M. The largest value reported for Q2 2026 was $18.84B, by Morgan Stanley Bank, N.A.
Definition
Report the remaining maturities of over five years of credit derivative contracts where the underlying reference asset is rated below investment grade, i.e., subinvestment grade, or, if not rated, is the equivalent of below investment grade under the bank's internal credit rating system.
Source: Federal Reserve Micro Data Reference Manual (MDRM). The FFIEC call report instructions remain the authority on how to report the item.
Where RCFDG411 sits on the call report
| Code | RCFDG411 (prefix RCFD, item G411) |
|---|---|
| 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 |
| Line item | FFIEC 031 Schedule RC-L, item 7.d.(1)(b); FFIEC 041 Schedule RC-L, item 7.d.(1)(b) |
| Reported on | FFIEC 031 |
| Value | Dollar amount, reported in thousands, as of the quarter end |
| In the MDRM since | 2009 |
The same item under other prefixes
Item G411 is also reported under these codes. Which banks file each one depends on the form they file.
| Code | Meaning of the prefix | Banks reporting |
|---|---|---|
| RCONG411 | 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 | RCFDG411 |
|---|---|---|
| Morgan Stanley Bank, N.A. | Salt Lake City, UT | $18.84B |
| Goldman Sachs Bank USA | New York, NY | $17.69B |
| Citibank, N.A. | Sioux Falls, SD | $7.47B |
| JPMorgan Chase Bank, N.A. | Columbus, OH | $2.56B |
| Bank of America, N.A. | Charlotte, NC | $1.19B |
| PNC Bank, N.A. | Wilmington, DE | $523.1M |
| Truist Bank | Charlotte, NC | $369.0M |
| HSBC Bank USA, N.A. | Tysons, VA | $284.7M |
| Fifth Third Bank, N.A. | Cincinnati, OH | $209.0M |
| The Huntington National Bank | Columbus, OH | $206.1M |
Total reported by quarter
| Quarter end | Banks reporting | Total reported |
|---|---|---|
| June 30, 2026 | 80 | $49.71B |
| March 31, 2026 | 80 | $185.87B |
| December 31, 2025 | 80 | $24.62B |
| September 30, 2025 | 80 | $88.00B |
| June 30, 2025 | 80 | $15.17B |
| March 31, 2025 | 82 | $76.08B |
| December 31, 2024 | 82 | $13.00B |
| September 30, 2024 | 82 | $47.24B |
Related
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