Now that NYRI has pulled it's plug, I guess I'll blog about other things every once in a while.
The office of the comptroller of currency (OCC) keeps track of bank derivatives. http://www.occ.treas.gov/deriv/deriv.htm
The 4th quarter of 2008 is found here http://www.occ.treas.gov/ftp/release/2009-34a.pdf The derivatives they're tracking consist mostly of credit default swaps (98%---see page 6 of 33).
1. (page 1/33) Derivatives were $200 trillion (notational value----which supposedly does not exactly represent credit risk) in the 4th quarter of 2008. The population of the United States is about 308 million; 308 million times $600,000 is approximately $200 trillion. Hmm---that calculation doesn't make me feel good.
2. Look at the table on page 25/33. The last column lists the ratio of credit exposure to capital ratio. The top 5 banks have #'s from 179 to 1056.
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