Good link.
Here's some context. I pulled Assets from that same site.
Assets Derivatives Difference
1 $3.3T $55.3T -$52T JPMorgan Chase Bank
2 $2.4T $51.8T -$49T Bank of America
3 $1.7T $46.5T -$45T Citibank
4 $1.7T $12.2T -$10T Wells Fargo Bank
A derivative is a bet, like that oil prices or interest rates stay above or below a certain number. All it takes is a big change in one direction and many of these bets would be in trouble- like in 2008. If 5% of BoA's derivatives went bad, it would be more than all their assets, which includes all deposits. And those deposits would all be seized.
Good link. Here's some context. I pulled Assets from that same site.
Assets Derivatives Difference 1 $3.3T $55.3T -$52T JPMorgan Chase Bank 2 $2.4T $51.8T -$49T Bank of America 3 $1.7T $46.5T -$45T Citibank 4 $1.7T $12.2T -$10T Wells Fargo Bank
A derivative is a bet, like that oil prices or interest rates stay above or below a certain number. All it takes is a big change in one direction and many of these bets would be in trouble- like in 2008. If 5% of BoA's derivatives went bad, it would be more than all their assets, which includes all deposits. And those deposits would all be seized.