US DATA: OCC says the notional amount of derivatives held by
insured U.S. commercial banks and savings associations fell by $3.0
trillion (or 1.2 percent) from the fourth quarter to $228 trillion. The
notional amount of derivatives contracts has fallen for three
consecutive quarters, due to ongoing trade compression activities.
Interest rate contracts fell $3.8 trillion (two percent) to $184
trillion, while FX contracts rose five percent to $26.8 trillion.