JPM · 10-Q · 2026Q2 · Full report
Derivative Receivables Growth
JPMORGAN CHASE & CO · 2026-08-06 · Importance 42 · Surprise 40 · From source text
Net derivative receivables increased 17.3% to $67.8 billion at June 30, 2026 from $57.8 billion at December 31, 2025, driven by foreign exchange and equity derivatives as a result of market movements. After liquid securities and other cash collateral, exposure rose to $34.0 billion from $28.9 billion, and exposure net of all collateral increased 16.1% to $32.4 billion. Investment-grade exposure represented $22.0 billion of the $32.4 billion net collateralized balance, while noninvestment-grade exposure was $10.5 billion. Approximately 87% of applicable OTC derivative transactions were subject to collateral agreements at June 30, 2026, compared with 86% at year-end 2025.
Key facts
- Derivative receivables at June 30, 2026: $67,767 million; at December 31, 2025: $57,777 million. source
- The fair value of derivative receivables reported was $67,767 million at June 30, 2026 and $57,777 million at December 31, 2025. source
- Total derivative receivables net of cash collateral were $34,000 million at June 30, 2026 and $28,886 million at December 31, 2025. source
- Total derivative receivables net of collateral were $32,439 million at June 30, 2026 and $27,937 million at December 31, 2025. source
- Exposure net of collateral at June 30, 2026 included $21,964 million of investment-grade and $10,475 million of noninvestment-grade, totaling $32,439 million. source
- Gross derivative receivables increased $1.2 billion and $4.1 billion for the three and six months ended June 30, 2026, respectively, due to gains, purchases and net transfers primarily offset by settlements. source
- Trading assets - derivative receivables (CIB average) for the three months ended June 30, 2026: $73,390 million. source
- The percentage of the Firm’s OTC derivative transactions subject to collateral agreements was approximately 87% at June 30, 2026 and 86% at December 31, 2025. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| assets | positive | realized | +0.2% | Derivative receivables at June 30, 2026: $67,767 million; at December 31, 2025: $57,777 million. |
| assets | positive | realized | +0.1% | Total derivative receivables net of cash collateral were $34,000 million at June 30, 2026 and $28,886 million at December 31, 2025. |