J.P. Morgan Chase’s derivatives book has swelled by a cool 10 Trillion in notional in Q2-2007
In case any of you are wondering how big new growth of 10 Trillion in notional really is: 10 Trillion / 66 business days = 151 Billion per day
Can anyone tell me how or where it is possible to generate 151 Billion in new business per day – for 66 straight business days - in ANYTHING? Not even China can pull this off.
As reported in the Treasury's OCC’s Quarterly Report on Bank Derivatives Activities - Second Quarter 2007, on page 23:
http://www.occ.treas.gov/ftp/deriv/dq207.pdf
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