RCFDG420: Over the Counter Derivatives: Net Current Credit Exposure - Hedge Funds
RCFDG420 is the call report code for over the counter derivatives: net current credit exposure - hedge funds, reported on Schedule RC-L, Derivatives and Off-Balance-Sheet Items (FFIEC 031 Schedule RC-L, item 16.a). For Q2 2026, 50 banks reported it, totaling $9.61B; the median among the 10 with a nonzero amount was $397.0M. The largest value reported for Q2 2026 was $3.82B, by JPMorgan Chase Bank, N.A.
Definition
Report the sum of the net current credit exposures on OTC derivative contracts by Hedge Funds. The sum of the net current credit exposures reported in columns A through E for this item may not equal the amount reported in Schedule RC-R, Memorandum item 1, 'Current credit exposure across all derivative contracts covered by the risk-based capital standards,' because the amount reported in Schedule RC-R, Memorandum item 1, excludes, for example, OTC derivatives not covered by the risk-based capital standards. All transactions within the consolidated bank should be reported on a net basis. The current credit exposure (sometimes referred to as the replacement cost) is the fair value of a derivative contract when that fair value is positive. The current credit exposure is zero when the fair value is negative or zero. For purposes of this item, the net current credit exposure to an individual counterparty should be derived as follows: Determine whether a legally enforceable bilateral netting agreement is in place between the reporting bank and the counterparty. If such an agreement is in place, the fair values of all applicable derivative contracts with that counterparty that are included in the scope of the netting agreement are netted to a single amount, which may be positive, negative, or zero.
Source: Federal Reserve Micro Data Reference Manual (MDRM). The FFIEC call report instructions remain the authority on how to report the item.
Where RCFDG420 sits on the call report
| Code | RCFDG420 (prefix RCFD, item G420) |
|---|---|
| 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 16.a; FFIEC 041 Schedule RC-L, item 16.a |
| Reported on | FFIEC 031 |
| Value | Dollar amount, reported in thousands, as of the quarter end |
| In the MDRM since | 2009 |
Largest reported values, Q2 2026
| Bank | Headquarters | RCFDG420 |
|---|---|---|
| JPMorgan Chase Bank, N.A. | Columbus, OH | $3.82B |
| The Bank of New York Mellon | New York, NY | $2.07B |
| Bank of America, N.A. | Charlotte, NC | $1.54B |
| Citibank, N.A. | Sioux Falls, SD | $1.02B |
| Wells Fargo Bank, N.A. | Sioux Falls, SD | $399.0M |
| State Street Bank and Trust Company | Boston, MA | $395.0M |
| Morgan Stanley Bank, N.A. | Salt Lake City, UT | $243.0M |
| Goldman Sachs Bank USA | New York, NY | $95.0M |
| Truist Bank | Charlotte, NC | $40.0M |
| HSBC Bank USA, N.A. | Tysons, VA | $385K |
Total reported by quarter
| Quarter end | Banks reporting | Total reported |
|---|---|---|
| June 30, 2026 | 50 | $9.61B |
| March 31, 2026 | 50 | $9.33B |
| December 31, 2025 | 49 | $6.94B |
| September 30, 2025 | 49 | $7.10B |
| June 30, 2025 | 49 | $7.70B |
| March 31, 2025 | 50 | $7.11B |
| December 31, 2024 | 51 | $8.29B |
| September 30, 2024 | 51 | $6.96B |
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