Interest Rate Swap Markets
BIS Triennial Survey published in December 2025
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According to BIS Triennial Survey published in December 2025 the daily averages of OTC single currency interest rate derivatives turnover by instrument and currency in April 2022 was (in millions of US dollars):
| Currency | Overnight index swaps | Other swaps |
|---|---|---|
| EUR | 1,268,074 | 1,138,483 |
| USD | 2,131,882 | 204,636 |
| GBP | 888,889 | 26,656 |
| JPY | 387,316 | 17,942 |
Majority of these swaps are centrally cleared. The risk management and model performance monitoring is still done in-house.